LifeSci Capital analyst Sam Slutsky maintained a Buy rating on RAPT Therapeutics on August 7 and set a price target of $31.00.
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Sam Slutsky has given his Buy rating due to a combination of factors including the promising potential of RAPT Therapeutics’ RPT904, which is being developed for IgE-mediated food allergy and chronic spontaneous urticaria. The therapy offers a significant advantage in dosing frequency compared to existing treatments like Xolair, potentially reaching patients who are currently ineligible for Xolair due to IgE/body weight levels.
Furthermore, the upcoming clinical readouts from RAPT’s Chinese partner, Jemincare, are expected to provide critical data that could validate RPT904’s efficacy and refine its dosing strategy. The enthusiasm for RPT904 is supported by extensive market research and the rapid adoption of Xolair in the food allergy market, indicating a substantial opportunity for RAPT. These factors, combined with anticipated future catalysts such as the initiation of a Phase 2b trial, underpin Slutsky’s positive outlook on the stock.
In another report released on August 7, Clear Street also maintained a Buy rating on the stock with a $24.00 price target.