HC Wainwright Reaffirms Buy Rating for Rapport Therapeutics (NASDAQ:RAPP)

Rapport Therapeutics (NASDAQ:RAPP)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a note issued to investors on Tuesday, Marketbeat Ratings reports. They presently have a $66.00 target price on the stock. HC Wainwright‘s price target suggests a potential upside of 124.72% from the stock’s current price.

Other analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Thursday. Leerink Partners began coverage on shares of Rapport Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price objective for the company. William Blair began coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 28th. They set an “outperform” rating for the company. TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research note on Tuesday. Finally, Wolfe Research began coverage on shares of Rapport Therapeutics in a research note on Thursday, October 15th. They set an “outperform” rating and a $50.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Rapport Therapeutics has a consensus rating of “Buy” and an average price target of $66.60.

Rapport Therapeutics Trading Up 2.7%

NASDAQ:RAPP traded up $0.77 on Tuesday, reaching $29.37. 8,198,892 shares of the stock traded hands, compared to its average volume of 393,102. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -9.66 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 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 released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). Equities analysts anticipate that Rapport Therapeutics will post -4.09 EPS for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

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

Hedge Funds Weigh In On Rapport Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. KBC Group NV bought a new position in shares of Rapport Therapeutics during the 1st quarter valued at $30,000. State of Wyoming bought a new position in shares of Rapport Therapeutics during the 2nd quarter valued at $65,000. Meeder Asset Management Inc. bought a new position in shares of Rapport Therapeutics during the 2nd quarter valued at $116,000. AlphaCentric Advisors LLC lifted its holdings in shares of Rapport Therapeutics by 6.8% during the 1st quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock valued at $201,000 after buying an additional 408 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Rapport Therapeutics during the 1st quarter valued at $215,000.

Rapport Therapeutics News Summary

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

Rapport Therapeutics Company Profile

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.