In a report released today, Emily Bodnar from H.C. Wainwright maintained a Buy rating on RAPT Therapeutics, with a price target of $27.00.
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Emily Bodnar’s rating is based on the promising potential of RAPT Therapeutics’ RPT904, a half-life extended anti-IgE antibody, which could serve as a significant catalyst for the company. The acquisition of ex-China rights from Jemincare positions RAPT to benefit from the ongoing Phase 1b/2 trials for chronic spontaneous urticaria (CSU) and asthma, which are expected to yield initial data in the second half of 2025. RPT904’s extended half-life and increased affinity compared to omalizumab, the current approved treatment, suggest it could offer improved outcomes for patients.
Furthermore, the anticipated initiation of a Phase 2b trial for food allergies in the second half of 2025 adds another layer of potential growth. This trial, which does not require a peanut allergy for enrollment, could expedite patient recruitment and broaden the scope of treatment. With the possibility of demonstrating at least comparable efficacy to omalizumab but with less frequent dosing, RPT904 could establish a competitive edge in the anti-IgE market. These factors collectively underpin Bodnar’s Buy rating for RAPT Therapeutics.
In another report released today, Clear Street also maintained a Buy rating on the stock with a $24.00 price target.