Barclays Forecasts Strong Price Appreciation for Rapt Therapeutics (NASDAQ:RAPT) Stock

Key Points

• Barclays has raised its price target for Rapt Therapeutics from $35.00 to $58.00, suggesting a potential upside of 72.26% based on the current share price.
• Rapt Therapeutics shares have recently seen a significant increase, opening at $33.67 and reflecting a 14.8% rise.
• Analyst ratings for Rapt Therapeutics show a favorable outlook, with two Strong Buy ratings, five Buy ratings, and an average consensus rating of Moderate Buy.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) had its price target increased by analysts at Barclays from $35.00 to $58.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective would suggest a potential upside of 72.26% from the company's previous close.

Several other analysts also recently issued reports on RAPT. JPMorgan Chase & Co. raised shares of Rapt Therapeutics from a "neutral" rating to an "overweight" rating and upped their price target for the company from $13.00 to $55.00 in a report on Monday. Weiss Ratings reissued a "sell (d-)" rating on shares of Rapt Therapeutics in a report on Wednesday, October 8th. Leerink Partnrs raised Rapt Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 25th. Lifesci Capital raised Rapt Therapeutics to a "strong-buy" rating and set a $31.00 price objective on the stock in a research note on Tuesday, July 22nd. Finally, Wall Street Zen raised Rapt Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Rapt Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Rapt Therapeutics Stock Up 14.8%

Shares of NASDAQ RAPT opened at $33.67 on Tuesday. Rapt Therapeutics has a twelve month low of $5.67 and a twelve month high of $42.39. The stock's 50 day moving average price is $19.06 and its 200-day moving average price is $12.13. The company has a market capitalization of $556.90 million, a PE ratio of -2.38 and a beta of 0.23.

Rapt Therapeutics (NASDAQ:RAPT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.04). As a group, research analysts expect that Rapt Therapeutics will post -2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Rapt Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC raised its holdings in shares of Rapt Therapeutics by 27.7% in the first quarter. Exchange Traded Concepts LLC now owns 113,738 shares of the company's stock worth $139,000 after buying an additional 24,662 shares during the period. Callan Family Office LLC raised its holdings in shares of Rapt Therapeutics by 53.9% in the first quarter. Callan Family Office LLC now owns 89,327 shares of the company's stock worth $109,000 after buying an additional 31,287 shares during the period. Comerica Bank raised its holdings in shares of Rapt Therapeutics by 53.9% in the first quarter. Comerica Bank now owns 89,327 shares of the company's stock worth $109,000 after buying an additional 31,287 shares during the period. Invesco Ltd. raised its holdings in shares of Rapt Therapeutics by 411.7% in the first quarter. Invesco Ltd. now owns 58,901 shares of the company's stock worth $72,000 after buying an additional 47,391 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Rapt Therapeutics by 112.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 150,946 shares of the company's stock worth $184,000 after buying an additional 79,967 shares during the period. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

Rapt Therapeutics Company Profile

RAPT Therapeutics, Inc, a clinical-stage immunology-based biopharmaceutical company, focuses on discovery, development, and commercialization of oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases in the United States. The company's lead inflammation drug candidate is zelnecirnon (RPT193), a C-C motif chemokine receptor 4 (CCR4) antagonist that selectively inhibit the migration of type 2 T helper cells into inflamed tissues.

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