Wells Fargo analyst Yanan Zhu lowered the firm’s price target on Rapt Therapeutics (RAPT) to $4 from $17 and keeps an Overweight rating on the shares. The firm notes the FDA took the most conservative stance asking for definitive proof regarding liver SAE, contrary to expert expectations. Wells further notes efficacy signal from Phase 2b, which bodes well for next-gen compound, and awaits data to assess potential.
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