Clear Street Downgrades Rapt Therapeutics (RAPT) to Hold

Clear Street analyst Kaveri Pohlman downgraded Rapt Therapeutics (NASDAQ: RAPT) from Buy to Hold with a price target of $58.00 (from $60.00).

The analyst comments "GSK (GSK, NC) announced a definitive agreement to acquire RAPT (our 2026 Top Pick) for $58 per share in cash, modestly below our $60 PT. RAPT’s lead asset, ozureprubart (RPT904; anti-IgE mAb), is in development for food allergy (FA) and chronic spontaneous urticaria (CSU), with a U.S. P2b FA trial ongoing. FA is a >$40B, largely untapped market, and Xolair’s use by Roche (RHHBY, NC) and Novartis (NVS, NC) has catalyzed renewed interest in the anti-IgE class. That said, the prospect of biosimilar entry beginning in 2026 introduces some uncertainty, which, together with ozureprubart’s earlier stage, likely informed the ~$2.2B equity value."

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

Shares of Rapt Therapeutics closed at $35.10 yesterday.

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