Rapt Therapeutics price target raised to $72 from $27 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Rapt Therapeutics (RAPT) to $72 from $27 and keeps a Buy rating on the shares. The firm believes the positive data presented in chronic spontaneous urticaria “further de-risk” RPT904’s clinical development. A single dose of RPT904 could potentially improve complete responses versus omalizumab, the analyst tells investors in a research note. H.C. Wainwright sees readthrough from the CSU data to Rapt’s food allergy trial initiated today. It increased the probability of success in CSU and food allergy to 45% from 30%.