Wells Fargo raised the firm’s price target on Rapt Therapeutics (RAPT) to $6 from $4 and keeps an Overweight rating on the shares. With the in-license of a food allergy/CSU drug with a validated target and derisking Phase 1 pharmacokinetic-pharmacodynamic data supporting long dosing intervals, the firm sees significant upside for Rapt heading into proof-of-concept readouts starting in the second half of 2025.
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