Can anything shut down the Gold rally?
Investing.com - JMP Securities has reiterated its Market Outperform rating and $77.00 price target on Rapport Therapeutics (NASDAQ:RAPP).
The research firm maintained its positive outlook on the biopharmaceutical company, which has seen its stock rise 49% year-to-date following strong clinical trial results.
Rapport’s significant stock performance follows what JMP described as "stellar results" from the Phase 2a trial for RAP-219 in refractory focal epilepsy.
The firm’s analyst noted Rapport’s performance as part of broader movements within their coverage universe, which includes other pharmaceutical companies showing notable stock gains.
JMP Securities also highlighted Abivax (NASDAQ:ABVX), another company in its coverage with a Market Outperform rating, which has risen 1,048% year-to-date after announcing Phase 3 ABTECT results. InvestingPro data shows analysts maintain a strong buy consensus with a high price target of $116, though the company currently trades at elevated revenue multiples. Subscribers can access 12 additional ProTips and detailed financial metrics for ABVX.
In other recent news, Abivax has been in the spotlight with several noteworthy developments. The company announced a significant $400 million public offering of American Depositary Shares, providing underwriters a 30-day option to purchase additional shares. On the financial front, Piper Sandler raised its price target for Abivax to $112, reflecting optimism about the revenue potential from its ulcerative colitis treatment, obefazimod. This follows earlier positive Phase 3 trial data from the ABTECT program, which showed promising remission rates in ulcerative colitis patients. Morgan Stanley also upgraded Abivax to Overweight, increasing its price target to $71, citing strong clinical trial results. Guggenheim maintained a Buy rating with a $101 price target, highlighting promising data from competing inflammatory bowel disease treatments. These developments underscore a period of positive momentum for Abivax, with multiple analyst firms expressing confidence in the company’s future prospects.
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