Clear Street initiated coverage of Rapt Therapeutics (RAPT) with a Buy rating and $3 price target. The firm’s bullish call is driven by a strong conviction in RPT904b – a potentially best-in-class anti-IgE antibody for food allergy and chronic spontaneous urticaria that is comparable to Roche (RHHBY) and Novartis’ (NVS) Xolair, the analyst tells investors in a research note. Rapt’s 76% stock decline over 12 months relative to XBI’s 12% is primarily attributable to an unrelated asset discontinuation and has created a “significant opportunity”, the firm added.
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Read More on RAPT:
- Rapt Therapeutics initiated with a Buy at Clear Street
- RAPT Therapeutics Faces Nasdaq Delisting Notice
- Rapt Therapeutics price target lowered to $1 from $2 at UBS
- Rapt Therapeutics assumed with a Buy at H.C. Wainwright
- RAPT Therapeutics: Promising Clinical Developments and Strong Financial Performance Justify Buy Rating
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