Rapt Therapeutics initiated with an Overweight at Barclays

Barclays initiated coverage of Rapt Therapeutics (RAPT) with an Overweight rating and $35 price target. While Barclays still expects Regeneron’s (REGN) Dupixent to remain the dominant go-to option in topic dermatitis, the firm likes the robust risk/reward based on compelling MoA with still increasing efficacy, a large and growing TAM, and convenient oral route vs. injectable competition, the analyst tells investors in a research note.