Stifel reiterates buy rating for Rapport Therapeutics stock

On Tuesday, Stifel analysts reiterated their Buy rating for Rapport Therapeutics stock (NASDAQ:RAPP) with a price target of $35.00, aligning with the strong analyst consensus. According to InvestingPro data, analyst targets range from $28 to $42, suggesting significant upside potential from the current price of $9.40. This follows an analyst event that provided favorable updates on the progress of the RAP-219 phase 2a study in FOS.

The analysts highlighted that the primary outcome of the study, referred to as "long episodes," is an EEG biomarker correlated with clinical seizures. The study showed a concordance rate of over 90% between long episodes and EEG seizures, which supports the relevance of the biomarker. The company maintains a strong financial position, with InvestingPro data showing more cash than debt on its balance sheet and liquid assets exceeding short-term obligations.

Additionally, the frequency of diary seizures was reported to be approximately 10 per month. Analysts believe this positions the study well to potentially demonstrate a clinical effect, addressing investor questions around long episodes.

Stifel continues to view RAP-219 as having a strong chance of being an effective antiepileptic drug, noting its cleaner tolerability profile due to its selectivity.

In other recent news, Rapport Therapeutics has been in the spotlight with several significant developments. Analysts at Stifel have reiterated a Buy rating for Rapport Therapeutics, maintaining a price target of $35. This follows updates from an Analyst Event about the RAP-219 phase 2a study, which showed promising data regarding its use in treating clinical seizures. Meanwhile, Citizens JMP has maintained a Market Outperform rating for the company, setting a price target of $28. The firm highlighted the potential of RAP-219 in treating focal epilepsy, with proof-of-concept results expected soon. Additionally, Citizens JMP initiated coverage on Rapport Therapeutics, noting the company’s unique approach to CNS disorders and projecting significant future sales for RAP-219. In a strategic leadership move, Rapport Therapeutics appointed Dr. Jeffrey Sevigny as its new chief medical officer. Dr. Sevigny brings extensive experience to the role, particularly in advancing neuroscience research, and will focus on the RAP-219 program. These developments underscore Rapport Therapeutics’ ongoing efforts in advancing its drug pipeline and clinical strategies.

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