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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