LifeSci starts Rapt Therapeutics at Outperform on potential for lead asset

As previously reported, LifeSci Capital initiated coverage of Rapt Therapeutics (RAPT) with an Outperform rating and $31 price target The initial developmental focus for lead asset RPT904 is on food allergy and chronic spontaneous urticaria, notes the analyst, who adds that both indications “represent large markets” in the U.S. These two indications amount to “a multi-billion-dollar opportunity,” while Rapt also has two external catalysts in the form of Phase 2 readouts in asthma and CSU from their Chinese partner, Jemincare, the analyst added.