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Fly News Breaks for November 25, 2019
RAPT
Nov 25, 2019 | 06:06 EDT
Wells Fargo analyst Yanan Zhu initiated coverage of Rapt Therapeutics with an Outperform rating and $33 price target. The analyst's positive rating is based on opportunities for the company's CCR4 inhibitor programs, which exploit T cell homing as a novel mechanism for the treatment of a wide range of allergic inflammatory diseases and cancer. Zhu sees the company's lead immunology product candidate, CCR4 inhibitor RPT193, as having a $1B-plus opportunity as an oral competitor to blockbuster injectable drug Dupixent.
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