Stifel Reiterates Buy Rating on Rapport Therapeutics (RAPP)

Stifel analyst Paul Matteis reiterated a Buy rating and $35.00 price target on Rapport Therapeutics (NASDAQ: RAPP).

The analyst comments "At our Biotech Summer Summit, we sat down with CEO Abe Ceesay and CFO Troy Ignelzi to discuss the RAPP platform, as well as the potential of RAP-219 in epilepsy and broader CNS indications. Everything's on track here for a RAP-219 POC readout in 2025: we think the POC study (RNS), while newer, represents a thoughtful, efficient way to elucidate a derisking clinical signal. Taking a step back, RAPP's approach leverages novel science around receptor associated proteins, which may offer a highly-selective way to modulate a neurotransmitter system. But while the concept's newer, the risk here's arguably lower than usual for CNS, as RAP-219 is being studied in epilepsy, an area where preclinical data ('219's looks very promising) is historically quite predictive. The ph2a readout mid-2025 is somewhat binary but likely to be positive, in our view, and send shares higher. We updated our model for 2Q; TP remains $35."

For an analyst ratings summary and ratings history on Rapport Therapeutics click here. For more ratings news on Rapport Therapeutics click here.

Shares of Rapport Therapeutics closed at $20.38 yesterday.

You May Also Be Interested In

• Trump: Reinstating The Iranian Blockade
• Knight Transportation (KNX) PT Raised to $85 at Stifel Ahead of Q2 Earnings
• Amphenol (APH) PT Raised to $175 at TD Cowen