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On Tuesday, Citizens JMP analysts reaffirmed a Market Outperform rating for Rapport Therapeutics stock (NASDAQ:RAPP), maintaining a $28 price target. Trading at $9.40, the stock has significant upside potential according to analysts, with targets ranging from $28 to $42. This affirmation follows the company’s inaugural analyst day, which took place on Monday evening. InvestingPro data shows the company maintains a strong balance sheet with more cash than debt.
During the event, Rapport Therapeutics emphasized the potential of its RAP-219 therapy, currently under investigation in a Phase 2 epilepsy study. The company anticipates revealing proof-of-concept results for this study in September. This update comes as Rapport has successfully completed enrollment for the trial, ensuring that the timeline for the results remains on track.
Dr. Jacqueline French, a key opinion leader and principal investigator in the Phase 2 trial, participated in the analyst day, underscoring the importance of the RAP-219 study in the treatment of focal epilepsy.
Citizens JMP analysts highlighted the reinforced potential of RAP-219 as a target neurotherapy, which contributed to their decision to reiterate their Market Outperform rating and $28 price target for Rapport Therapeutics stock.
In other recent news, Rapport Therapeutics has initiated coverage by Citizens JMP with a Market Outperform rating and a price target of $28.00. The firm highlighted Rapport’s development of precision therapeutics for central nervous system disorders, emphasizing the potential of their lead candidate, RAP-219. This candidate is currently in a Phase 2a proof-of-concept trial, with results anticipated in the third quarter of 2025. Analysts project that RAP-219 could achieve significant market penetration, potentially generating net U.S. sales of around $1.1 billion by 2034, assuming a 45% probability of success.
In addition, Rapport Therapeutics has appointed Dr. Jeffrey Sevigny as its new chief medical officer. Dr. Sevigny brings over 15 years of experience in drug development, having previously held leadership roles at Prevail Therapeutics (NASDAQ:PRVL) and Eli Lilly (NYSE:LLY). His focus will be on advancing the RAP-219 program, which is in clinical trials for conditions such as focal epilepsy and diabetic peripheral neuropathic pain. CEO Abraham N. Ceesay has expressed confidence in Dr. Sevigny’s ability to enhance the company’s clinical development efforts. Dr. Sevigny’s appointment is expected to support Rapport’s mission to deliver novel treatments for neurological disorders.
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