LifeSci Capital analyst Sam Slutsky has maintained their bullish stance on RAPT stock, giving a Buy rating today.
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Sam Slutsky has given his Buy rating due to a combination of factors including the promising results from RAPT Therapeutics’ Phase 2 trial of RPT904 in chronic spontaneous urticaria (CSU). The trial, conducted entirely in China, demonstrated that RPT904 not only met but exceeded expectations by showing better efficacy than the existing treatment, omalizumab, at less frequent dosing intervals. This suggests a strong potential for RPT904 to be effective in other conditions such as IgE-mediated food allergies, which typically require more drug exposure.
Furthermore, RAPT Therapeutics is planning to advance to Phase 3 studies in CSU by the second half of 2026, indicating a clear path forward for the drug’s development. The company is also on track to initiate a Phase 2b trial for food allergies by the end of the year, with results anticipated in the first half of 2027. These developments, along with an increase in the price target to $72 per share from $31, underpin the Buy rating, reflecting confidence in the company’s strategic direction and the potential market impact of RPT904.
In another report released today, J.P. Morgan also upgraded the stock to a Buy with a $55.00 price target.