Rapport Therapeutics (NASDAQ:RAPP) Stock Price Target Raised at JonesTrading

Rapport Therapeutics (NASDAQ:RAPP) had its target price hoisted by investment analysts at JonesTrading from $50.00 to $82.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. JonesTrading’s target price would suggest a potential upside of 214.97% from the stock’s current price.

A number of other research firms have also recently issued reports on RAPP. UBS Group initiated coverage on Rapport Therapeutics in a report on Thursday, October 15th. They issued a “buy” rating and a $71.00 price target for the company. Wall Street Zen lowered shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Wolfe Research initiated coverage on shares of Rapport Therapeutics in a research report on Thursday, October 15th. They set an “outperform” rating and a $50.00 target price on the stock. Citigroup reiterated an “outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday. Finally, TD Cowen reissued a “buy” rating on shares of Rapport Therapeutics in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Rapport Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $68.36.

Rapport Therapeutics Stock Performance

Rapport Therapeutics stock traded down $3.34 during trading hours on Wednesday, hitting $26.03. 1,311,854 shares of the stock were exchanged, compared to its average volume of 397,603. The stock has a market capitalization of $1.25 billion, a P/E ratio of -8.51 and a beta of 1.22. Rapport Therapeutics has a 12 month low of $23.75 and a 12 month high of $52.93. The business’s 50-day moving average is $40.31 and its two-hundred day moving average is $39.13.

Rapport Therapeutics (NASDAQ:RAPP) last announced its 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, equities analysts predict that Rapport Therapeutics will post -4.09 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Abraham Ceesay sold 28,958 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the completion of the sale, the chief executive officer directly owned 486,108 shares of the company’s stock, valued at $23,338,045.08. The trade was a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Cheryl Gault sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $33.19, for a total transaction of $331,900.00. Following the completion of the transaction, the chief operating officer owned 139,914 shares in the company, valued at $4,643,745.66. This represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 97,976 shares of company stock worth $4,420,349 in the last ninety days. Insiders own 12.48% of the company’s stock.

Institutional Trading of Rapport Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP acquired a new position in shares of Rapport Therapeutics during the 2nd quarter worth about $888,000. Wellington Management Group LLP raised its position in shares of Rapport Therapeutics by 11.2% in the 2nd quarter. Wellington Management Group LLP now owns 86,988 shares of the company’s stock valued at $3,625,000 after acquiring an additional 8,757 shares during the period. Artia Global Partners LP acquired a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at approximately $5,772,000. Bank of America Corp DE bought a new position in Rapport Therapeutics during the 2nd quarter worth approximately $3,170,000. Finally, Jupiter Topco LLC bought a new position in Rapport Therapeutics during the 2nd quarter worth approximately $574,000.

Trending Headlines about Rapport Therapeutics

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

• Positive Sentiment: Rapport reported that its Phase 2 trial of RAP-219 met both the primary and secondary endpoints. At Week 3, the treatment produced a statistically significant placebo-adjusted 3.1-point improvement in the Young Mania Rating Scale and a 0.4-point improvement in the Clinical Global Impression–Bipolar severity score. Rapport Phase 2 topline results
• Positive Sentiment: The company plans to advance RAP-219 into Phase 3 bipolar-mania trials, reducing some development uncertainty and supporting the potential for a larger commercial opportunity. Rapport plans Phase III trials
• Positive Sentiment: Analysts responded favorably: BTIG raised its price target to $89 from $75, Raymond James increased its target to $86 from $75, and HC Wainwright reaffirmed a Buy rating with a $66 target. Analysts have cited a potential blockbuster opportunity, with estimated peak sales near $1 billion. Raymond James price target increase
• Neutral Sentiment: Investor reaction has been volatile, with unusually heavy trading volume following the data release as the market weighs the clinical results and the transition toward Phase 3. Rapport trading volume
• Negative Sentiment: Some coverage characterized the trial win as modest because RAP-219 fell short of the study’s original ambitions, which may explain profit-taking and the stock’s continued weakness despite positive headline results. Rapport Phase 2 analysis

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.