H.C. Wainwright raised the firm’s price target on Rapport Therapeutics (RAPP) to $34 from $31 and keeps a Buy rating on the shares. The firm says RAP-219 surpassed its “most bullish expectations” with 71% reduction in long episodes and 78% reduction in clinical seizures. The data show “unimpeachable evidence” of the drug’s effect and provide “strong evidence that it has the potential to become a mainstay” in the treatment of focal onset seizures, the analyst tells investors in a research note. H.C. Wainwright increased its probability of sucess for oral RAP-219 to 66% and peak revenue estimate to $766M from $613M.
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