Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) had its target price upped by equities research analysts at BTIG Research from $65.00 to $75.00 in a research report issued on Wednesday, Marketbeat.com reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 75.73% from the company’s previous close.
Other equities research analysts have also issued research reports about the company. HC Wainwright raised their price objective on Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Leerink Partners began coverage on Rapport Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price for the company. Raymond James Financial reissued a “strong-buy” rating and set a $75.00 price target on shares of Rapport Therapeutics in a research report on Monday, August 17th. Finally, William Blair assumed coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Rapport Therapeutics has a consensus rating of “Buy” and an average price target of $64.29.
View Our Latest Report on RAPP
Rapport Therapeutics Price Performance
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last posted 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). On average, sell-side analysts anticipate that Rapport Therapeutics will post -4.09 EPS for the current year.
Insider Activity
In related news, CEO Abraham Ceesay sold 28,958 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the completion of the sale, the chief executive officer owned 486,108 shares of the company’s stock, valued at $23,338,045.08. This represents a 5.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 81,244 shares of company stock valued at $3,858,615. Company insiders own 12.48% of the company’s stock.
Hedge Funds Weigh In On Rapport Therapeutics
Institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP acquired a new stake in Rapport Therapeutics in the second quarter worth $888,000. Wellington Management Group LLP lifted its stake 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 position in shares of Rapport Therapeutics during the second quarter valued at $5,772,000. Bank of America Corp DE bought a new position in shares of Rapport Therapeutics during the second quarter worth about $3,170,000. Finally, Jupiter Topco LLC bought a new position in shares of Rapport Therapeutics during the second quarter worth about $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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