UBS analyst Eliana Merle downgraded Rapt Therapeutics to Neutral from Buy with a price target of $10, down from $61. The analyst sees limited visibility on RPT193’s clinical development path in atopic dermatitis and asthma after the FDA placed a clinical hold on the trials. The firm reduced RPT193’s probability of success to 5% from 35% prior and awaits further visibility.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on RAPT:
- Rapt Therapeutics downgraded to Neutral from Overweight at JPMorgan
- RAPT Therapeutics Hit by FDA Clinical Trial Hold
- Rapt Therapeutics downgraded to Neutral from Overweight at Cantor Fitzgerald
- RAPT Therapeutics (NASDAQ:RAPT) Crashes 60% after FDA Places Clinical Hold
- RAPT Therapeutics Announces Clinical Hold on Studies Evaluating Zelnecirnon