Rapport Therapeutics, Inc. (NASDAQ:RAPP) Stock Has Average Target Price of $66.25

Key Points

• Analyst sentiment is broadly positive: Thirteen firms give Rapport Therapeutics an average “Buy” rating, with an average 12-month price target of $66.25 versus the stock’s $33.91 opening price.
• Recent analyst targets range from $52 to $80, including BTIG’s increase to $75, while Weiss Ratings maintained a “sell” rating.
• The company reported a quarterly loss of $1.19 per share, missing estimates by $0.07. Insiders have sold 83,454 shares worth about $3.95 million over the past three months.

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) have been assigned an average rating of "Buy" from the thirteen research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, ten have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $66.25.

RAPP has been the subject of several recent analyst reports. UBS Group set a $80.00 target price on Rapport Therapeutics in a research note on Wednesday. William Blair assumed coverage on Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an "outperform" rating on the stock. Leerink Partners began coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They issued an "outperform" rating and a $52.00 price target for the company. BTIG Research raised their price objective on Rapport Therapeutics from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, September 16th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Rapport Therapeutics in a report on Friday, July 17th.

Rapport Therapeutics Trading Up 0.2%

NASDAQ RAPP opened at $33.91 on Friday. The stock has a market cap of $1.63 billion, a P/E ratio of -11.15 and a beta of 1.02. The company's fifty day simple moving average is $44.43 and its 200-day simple moving average is $38.81. Rapport Therapeutics has a 52 week low of $23.75 and a 52 week high of $52.93.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.07). On average, research analysts expect that Rapport Therapeutics will post -4.09 EPS for the current fiscal year.

Insider Activity

In related news, CEO Abraham Ceesay sold 2,210 shares of the company's stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $39.17, for a total value of $86,565.70. Following the sale, the chief executive officer directly owned 456,767 shares of the company's stock, valued at $17,891,563.39. This represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 83,454 shares of company stock valued at $3,945,181 in the last three months. 12.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP acquired a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at about $888,000. Wellington Management Group LLP increased its holdings in Rapport Therapeutics by 11.2% in the second quarter. Wellington Management Group LLP now owns 86,988 shares of the company's stock valued at $3,625,000 after buying an additional 8,757 shares during the last quarter. Artia Global Partners LP acquired a new stake in Rapport Therapeutics during the second quarter valued at approximately $5,772,000. Bank of America Corp DE acquired a new stake in Rapport Therapeutics during the second quarter valued at approximately $3,170,000. Finally, Jupiter Topco LLC acquired a new stake in Rapport Therapeutics during the second quarter valued at approximately $574,000.

Rapport Therapeutics Company Profile

Rapport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for disorders of the central nervous system. The company's research centers on receptor-associated proteins, which help regulate neurotransmitter receptors and may provide opportunities to develop more selective therapies than those that target receptors broadly.

Rapport's lead development program, RAP-219, is an orally administered investigational therapy designed to modulate AMPA receptors through their associated proteins.

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