Analyst Kambiz Yazdi from BTIG maintained a Buy rating on Rapport Therapeutics, Inc. and keeping the price target at $47.00.
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Kambiz Yazdi has given his Buy rating due to a combination of factors tied to the strength and breadth of Rapport Therapeutics’ clinical pipeline. He sees the accelerated start of the Phase 3 program for RAP-219 in focal onset seizures as a key value driver, particularly given the robust Phase 2a results in a highly drug-resistant population and the clear regulatory path with well-defined endpoints. The planned expansion of RAP-219 into additional seizure types such as primary generalized tonic-clonic seizures, along with an open-label extension that should generate longer-term safety and durability data, further supports the potential for this asset to become a meaningful therapy in epilepsy.
Yazdi also views the diversification of indications and modalities as an important part of the Buy thesis. The ongoing development of RAP-219 in bipolar mania provides upside optionality in a large neuropsychiatric market, with a mechanism that appears well aligned with brain regions implicated in the disorder. In parallel, the company’s work on a long-acting injectable formulation of RAP-219 and the prioritization of a selective α6β4 nAChR agonist program in chronic pain and migraine add additional shots on goal. Taken together, these programs underpin his positive outlook on Rapport’s long-term growth potential and justify the Buy rating and associated price target.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $40.00 price target.
RAPP’s price has also changed dramatically for the past six months – from $12.040 to $30.120, which is a 150.17% increase.