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Investing.com - TD Cowen has reiterated its Buy rating on Rapport Therapeutics (NASDAQ:RAPP) following an investor dinner with a key opinion leader in epileptology. The company, currently valued at $417 million, maintains a strong analyst consensus rating of 1.2 (Strong Buy), with price targets ranging from $28 to $42.
The research firm’s analyst Joseph Thome maintained the positive outlook after hosting the dinner with Rapport Therapeutics and a leading epileptologist who expressed strong optimism about RAP-219, the company’s developmental drug. InvestingPro data shows the company holds more cash than debt, with a healthy current ratio of 31, though it’s currently burning through cash reserves.
The epileptology expert was reportedly "very impressed" by the Phase II trial design for RAP-219, believing it will produce actionable data when results are released in September.
The key opinion leader viewed RAP-219’s mechanism as differentiated from other treatments, highlighting its potential for improved tolerability due to its targeted approach to treating epilepsy.
TD Cowen expressed "high conviction" for a positive outcome when the September data from the focal onset seizure (FOS) trial is released, and sees "substantial upside" potential for Rapport Therapeutics shares from current levels.
In other recent news, Rapport Therapeutics has been the focus of several analyst updates. Jones Trading reaffirmed a Buy rating with a price target of $42.00 following the company’s Investor & Analyst Day, where significant developments in the RAP-219 data readout for refractory focal epilepsy were discussed. Stifel also reiterated a Buy rating with a price target of $35.00, emphasizing the promising results from the RAP-219 phase 2a study, which showed a high concordance rate between long episodes and EEG seizures. Citizens JMP maintained a Market Outperform rating with a $28 price target, highlighting the potential of RAP-219 in a Phase 2 epilepsy study, with proof-of-concept results expected in September.
Rapport Therapeutics’ ongoing research into RAP-219, a therapy aimed at treating focal epilepsy, has shown promising signs of effectiveness and tolerability. Analysts from Stifel noted the drug’s selectivity and cleaner tolerability profile, which could position it as an effective antiepileptic drug. Meanwhile, Citizens JMP analysts project that RAP-219 could potentially serve a significant portion of focal epilepsy patients who do not respond to existing treatments. The company’s efforts in creating targeted and selective treatments have been recognized for their potential to improve safety and tolerability profiles. These recent developments underline the positive outlook analysts hold for Rapport Therapeutics’ stock.
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