|Over a week ago|
Rapt Therapeutics price target raised to $51 from $37 at Cantor Fitzgerald » 06:5407/2707/27/20
Cantor Fitzgerald analyst…
Cantor Fitzgerald analyst Altheia Young raised the firm's price target on Rapt Therapeutics to $51 from $37 and keeps an Overweight rating on the shares. Ahead of the company's proof-of-concept data for both of its CCR4 programs in 2H, Young says Rapt is a highly underappreciated story with two big catalysts expected by year end. The analyst believes this is a stock with significant upside potential and relatively low investor awareness given it has two distinct near-term "shots on goal" with proof-of-concept readouts in oncology and atopic dermatitis and believes either opportunity represents a large enough market to be a blockbuster drug, even if the other "shot on goal" does not play out.
Rapt Therapeutics price target raised to $40 from $33 at Wells Fargo » 09:0707/1307/13/20
Wells Fargo analyst Yanan…
Wells Fargo analyst Yanan Zhu raised the firm's price target on Rapt Therapeutics to $40 from $33 and keeps an Overweight rating on the shares following his FLX475-focused update call with management. The analyst cites increased probability of success for the FLX475 program in charged tumors. Overall, while Zhu continues to see the allergic inflammatory disease product candidate RPT193 as the major value driver for RAPT, the analyst now also views the prospects of the FLX475 cancer program as increasingly favorable as the ongoing phase 1/2 study progresses toward proof-of-concept data readout across eight phase 2 cohorts the second half of 2020.
|Over a month ago|
Rapt Therapeutics initiated with a Buy at H.C. Wainwright » 06:2506/0106/01/20
H.C. Wainwright analyst…
H.C. Wainwright analyst Raghuram Selvaraju initiated coverage of Rapt Therapeutics with a Buy rating and $40 price target. The company has hit upon a novel way to address immune system dysregulation in both allergic disorders and cancer, Selvaraju tells investors in a research note. The analyst sees multiple near- and medium-term catalysts for the shares.
Rapt Therapeutics announces poster presentation for Phase 1/2 trial of FLX475 » 08:3005/2905/29/20
RAPT Therapeutics announced the presentation of a Trials in Progress poster for the ongoing seamless Phase 1/2 clinical trial of FLX475, a small molecule CCR4 antagonist in development for multiple tumor types. The poster was presented at the American Society of Clinical Oncology 2020. The poster presentation detailed previously reported initial Phase 1 healthy volunteer data for FLX475 that demonstrated excellent safety, pharmacokinetics and target engagement. FLX475 is designed to block regulatory T cells from migrating to tumor sites, where they suppress immune system responses to cancer cells, without depleting regulatory T cells in the rest of the body nor immune cells required for an anti-tumor response. A robust pharmacodynamic assay measuring receptor occupancy on circulating regulatory T cells demonstrated that FLX475 achieved exposure levels over the targeted 75%, predicting maximal inhibition of regulatory T cell recruitment into tumors via CCR4 signaling. In addition, levels of FLX475 increased in a dose-proportional manner, with a strong PK/PD correlation observed between drug levels and receptor occupancy. Building on these data, RAPT initiated a seamless Phase 1/2 study of FLX475. The Phase 1 portion of the trial was a standard dose escalation study in patients with many types of cancer, and the Phase 2 portion is evaluating FLX475 both as monotherapy and in combination with a checkpoint inhibitor in patients with "charged" tumors, which are tumors that express high levels of CCR4 ligands, and have a high presence of regulatory T cells and CD8+ effector T cells. RAPT is currently enrolling the Phase 2 portion of the trial in patients with charged tumors, including non-small cell lung cancer, triple negative breast cancer, head and neck squamous cell carcinoma, cervical cancer as well as EBV-positive nasopharyngeal cancer and lymphomas.
Fly Intel: Top five analyst initiations » 10:1105/1905/19/20
BYND, RAPT, OSPN, DKNG, ORIC
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Beyond Meat (BYND) initiated with a Buy at BTIG. 2. Rapt Therapeutics (RAPT) initiated with an Overweight at Cantor Fitzgerald. 3. OneSpan (OSPN) initiated with a Buy at Needham. 4. DraftKings (DKNG) initiated with a Neutral at Goldman Sachs. 5. ORIC Pharmaceuticals (ORIC) initiated with an Overweight at JPMorgan, a Buy at Jefferies and Guggenheim, and a Neutral at Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
Rapt CCR4 antagonist may be competitive against Dupixent, says Roth Capital » 09:4605/1905/19/20
Rapt Therapeutics (RAPT),…
Rapt Therapeutics (RAPT), at the Society for Investigative Dermatology virtual meeting, presented updated preclinical data and Phase 1a safety/PK-PD data in healthy-volunteers for RPT193, its orally-available CCR4 antagonist, that provided further evidence of its competitive safety and tolerability, Roth Capital analyst Zegbeh Jallah tells investors in a research note. The analyst continues to believe RPT193 could be competitive to Regeneron's (REGN) blockbuster Dupixent and expects the Phase 1b data in atopic dermatitis patients by the end of 2020 to be confirmatory. The results will support Phase 2 studies powered to show RPT193's efficacy in atopic dermatitis, asthma, and other allergic diseases, contends Jallah, who keeps a Buy rating on Rapt Therapeutics with a $38 price target.
Rapt Therapeutics initiated with an Overweight at Cantor Fitzgerald » 16:1205/1805/18/20
Cantor Fitzgerald analyst…
Cantor Fitzgerald analyst Altheia Young initiated coverage of Rapt Therapeutics with an Overweight rating and $37 price target.
Rapt Therapeutics highlights eary results for RTI193 at SID meeting » 08:1305/1505/15/20
RAPT Therapeutics announced that researchers presented encouraging results from preclinical and healthy volunteer studies for RPT193 at the Society for Investigative Dermatology Meeting. RPT193 is a small molecule, once-daily oral therapy in development for the treatment of atopic dermatitis and other allergic inflammatory diseases. During the session, Laurence Cheng, M.D., Ph.D., Senior Medical Director at RAPT Therapeutics, presented blinded Phase 1a data from healthy volunteer cohorts of an ongoing seamless Phase 1 study showing that once-daily oral dosing of RPT193 for seven days achieved target drug levels and target coverage with an excellent safety profile in healthy volunteers. In addition, Dr. Cheng noted that in multiple preclinical studies of allergic skin inflammation, once-daily dosing of RPT193 demonstrated efficacy and reduction of Th2 cytokines comparable to treatment with currently available biologics that work by blocking interleukin-4 and IL-13, the major drivers of allergic inflammatory disease.
Rapt Therapeutics reports Q1 EPS (56c), consensus (43c) » 08:0405/1405/14/20
Reports Q revenue…
Reports Q revenue $935,000, consensus $4.17M. "We continue to progress our programs during these challenging times. Our first priority is to protect our employees and our patients. We are practicing social distancing in the lab and conducting a good portion of our work remotely," said Brian Wong, M.D., Ph.D., President and CEO of RAPT Therapeutics. "We remain in close contact with investigators from all of our clinical trial sites. As for our FLX475 trial, sites in Asia and some U.S. sites continue to enroll, although there has been some slowing in some regions as investigators adjust to SARS CoV2-related dynamics. We anticipate reporting initial results from our FLX475 Phase 1/2 trial in the second half of 2020. We also are in contact with our RPT193 investigators. We expect to complete enrollment of patients with atopic dermatitis in the Phase 1b portion of our Phase 1 study and report results from the full Phase 1 study by the end of the year."
|Over a quarter ago|
Fly Intel: Top five analyst initiations » 10:2604/1304/13/20
RAPT, ALLO, CARR, TTGT, NVCN
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Rapt Therapeutics (RAPT) initiated with a Buy at Roth Capital. 2. Allogene Therapeutics (ALLO) initiated with a Buy at SunTrust. 3. Carrier Global (CARR) initiated with a Neutral at Citi. 4. TechTarget (TTGT) initiated with a Buy at National Securities. 5. Neovasc (NVCN) initiated with an Outperform at Noble Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.