Rapt Therapeutics could be valued at ~$7B, says Capital One

Capital One analyst Zegbeh Jallah maintained an Overweight rating and $48 price target on Rapt Therapeutics (RAPT), noting that Eli Lilly’s (LLY) proposed acquisition of DICE Therapeutics (DICE) for $2.5B, which was announced earlier this week, suggests that Rapt could be valued at ~$7B using the DICE deal as a read through. The firm sees current valuation as attractive, and noted that its $48 price target supports a valuation of ~$1.7B.