Wells Fargo raised the firm’s price target on Rapt Therapeutics (RAPT) to $48 from $38 and keeps an Overweight rating on the shares. The firm says that partner CSU data suggests efficacy comparable to or numerically better than XOLAIR, even with Q12W dosing. With epitope same as XOLAIR, Wells expects efficacy to translate to FA, a large market that can support blockbuster sales even with biosimilar pricing.
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Read More on RAPT:
- Rapt Therapeutics price target raised to $60 from $41 at Clear Street
- RAPT Therapeutics Reports Positive Phase 2 Trial Results
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- RAPT Therapeutics’ Promising Phase 2 Results and Strategic Advancements Drive Buy Rating
- JPMorgan upgrades Rapt Therapeutics on ‘compelling’ CSU data