Rapport Therapeutics’ (RAPP) Buy Rating Reiterated at HC Wainwright

Rapport Therapeutics (NASDAQ:RAPP)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Tuesday, MarketBeat reports. They presently have a $66.00 price objective on the stock. HC Wainwright‘s price objective points to a potential upside of 124.72% from the company’s previous close.

RAPP has been the topic of several other research reports. Wolfe Research assumed coverage on Rapport Therapeutics in a research note on Thursday, October 15th. They issued an “outperform” rating and a $50.00 price target on the stock. William Blair assumed coverage on Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an “outperform” rating on the stock. Leerink Partners assumed coverage on Rapport Therapeutics in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 price target on the stock. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Rapport Therapeutics in a research note on Tuesday, September 22nd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research note on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Rapport Therapeutics presently has an average rating of “Buy” and a consensus price target of $66.60.

Rapport Therapeutics Stock Performance

Shares of NASDAQ:RAPP traded up $0.77 during trading on Tuesday, hitting $29.37. 8,198,892 shares of the stock were exchanged, compared to its average volume of 393,102. Rapport Therapeutics has a 1-year low of $23.75 and a 1-year high of $52.93. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -9.66 and a beta of 1.22. The company’s fifty day simple moving average is $40.31 and its 200-day simple moving average is $39.13.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.07). On average, research analysts forecast that Rapport Therapeutics will post -4.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 28,958 shares of Rapport Therapeutics stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total value of $1,390,273.58. Following the completion of the transaction, the chief executive officer owned 486,108 shares in the company, valued at approximately $23,338,045.08. The trade was a 5.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Cheryl Gault sold 10,000 shares of Rapport Therapeutics stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $33.19, for a total value of $331,900.00. Following the completion of the transaction, the chief operating officer owned 139,914 shares of the company’s stock, valued at approximately $4,643,745.66. The trade was a 6.67% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 97,976 shares of company stock valued at $4,420,349. Corporate insiders own 12.48% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

Several institutional investors have recently bought and sold shares of RAPP. KBC Group NV bought a new position in Rapport Therapeutics in the 1st quarter valued at $30,000. State of Wyoming bought a new position in Rapport Therapeutics in the 2nd quarter valued at $65,000. Meeder Asset Management Inc. bought a new position in Rapport Therapeutics in the 2nd quarter valued at $116,000. AlphaCentric Advisors LLC raised its position in shares of Rapport Therapeutics by 6.8% during the first quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock worth $201,000 after acquiring an additional 408 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Rapport Therapeutics during the first quarter worth $215,000.

Key Headlines Impacting Rapport Therapeutics

Here are the key news stories impacting Rapport Therapeutics this week:

• Positive Sentiment: RAP-219 met both the primary and secondary endpoints in the Phase 2 bipolar mania trial. At Week 3, the treatment produced a statistically significant placebo-adjusted improvement of 3.1 points on the YMRS total score (p=0.045) and 0.4 points on the CGI-BP Severity of Mania score (p=0.024). Rapport Therapeutics Announces Positive Topline Results from its Phase 2 Trial of RAP-219 for the Treatment of Bipolar Mania
• Positive Sentiment: The company plans to advance RAP-219 into Phase 3, improving the outlook for its pipeline and increasing the potential value of the bipolar mania program. Analysts have described the opportunity as potentially capable of reaching approximately $1 billion in peak sales. Inside the $1 Billion Blockbuster Opportunity That Has Rapport Therapeutics Stock Surging
• Positive Sentiment: Analyst sentiment strengthened after the readout. HC Wainwright reaffirmed its Buy rating with a $66 price target, while BTIG raised its target to $89 from $75 and maintained a Buy rating. Rapport Therapeutics Shares Jump Premarket With Positive Trial Results
• Neutral Sentiment: Coverage characterized the trial as a meaningful win but noted that RAP-219 only narrowly achieved statistical significance and fell short of the more ambitious expectations some investors had set for the study. Further Phase 3 data will be needed to validate efficacy and commercial potential. Rapport’s phase 2 bipolar win strikes chord with analysts despite falling short of original ambition
• Negative Sentiment: Before the trial announcement, shares had declined substantially over the prior month and some commentary described the stock as expensive relative to its development-stage profile. Rapport also remains unprofitable, making future clinical execution and financing important risks. Rapport Therapeutics Stock Seems Pricey Following a 29% Monthly Slide

About Rapport Therapeutics

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for central nervous system disorders. The company’s approach is designed to selectively target receptor-associated proteins that regulate synaptic receptors, with the goal of improving therapeutic selectivity and reducing the side effects associated with broader-acting neurological medicines.

Rapport’s lead product candidate, RAP-219, is an orally administered small molecule being developed for neurological conditions, including focal epilepsy.