#Rapt therapeutics stock forecast trial#
Given the strong and growing demand for cancer care and the positive trial results, RAPT stock could be a good buy even now.As of Recent RAPT Analyst Ratings Breakdown The encouraging trial results are positive for RAPT stock and show the advancement on the under-trial products. Is RAPT stock a good buyĬlinical stage biopharma companies can be risky to invest in as they are a play on the underlying product under development. Cantor Fitzgerald also boosted RAPT’s target price from $51 to $71. Roth Capital also upgraded the stock from a positive to buy and increased the target price from $38 to $72. Wells Fargo more than doubled its target price from $30 to $65 and assigned an overweight rating. The stock’s target price is $56.40 which is a premium of 41% over current prices.Īfter RAPT released positive trial results, several analysts raised their target prices. Wall Street analysts are bullish on RAPT stock and all five analysts surveyed by MarketBeat rate them as a buy or some equivalent. According to RAPT, “this increase was primarily due to increased clinical trial costs for FLX475 and RPT193, increased personnel costs and stock-based compensation expense and an increase in facilities costs, offset by a decrease in laboratory supplies spend.” RAPT stock forecast The company’s research and development expenses also increased from $10.7 million to $13.8 million over the period. The company attributed higher expenses to an increase in stock-based compensation. In the quarter, it posted a net loss of $16.5 million which was higher than the $13.1 million that it had reported in the corresponding quarter in 2020.ĭuring the quarter, it reported general and administrative expenses of $4 million as compared to $3.3 million in the first quarter of 2020. RAPT had cash and cash equivalents of $98.4 million at the end of the first quarter of 2021. The pricing has not yet be announced but it could be at a discount to the current market price which is the norm. The company expects to give the underwriters a 30-day option to purchase an additional $18.75 million of its shares. RAPT announced an underwritten public offering of its shares to raise $125 million. Generally, stocks tend to fall after the announcement of capital raises as it leads to dilution. This way they can capitalize on the stock’s rise and also raise the much-needed capital to bridge their cash burn. Usually, these companies announce a capital raise just after announcing a positive clinical trial. Capital raiseĬlinical stage biopharma companies burn a lot of cash towards research and development and clinical trials. The stock crossing above the key resistance level is a bullish technical indicator. It has crossed above the 200-day SMA (simple moving average) which it could not break since December 2020. However, as the US stock markets crashed in the first quarter of 2020, the stock fell to almost the IPO price level. It made its all-time high in January 2020. The company went public in 2019 and priced the IPO at $12 per share. RAPT stock was trading flat for the year before the trial findings were released. Looking to buy RAPT? Invest now at eToro!ħ5% of all retail investor accounts lose money when trading CFDs with this provider. RAPT stock jumped sharply as markets gave a thumbs up to the trial results. He added, “We look forward to advancing RPT193 to a Phase 2b trial in atopic dermatitis and a Phase 2a trial in asthma.”Ĭlinical stage biopharma companies tend to react sharply to the trial results. “These data strongly support the potential of RPT193 as a safe, once-daily, oral treatment for patients with atopic dermatitis which would be an attractive therapeutic alternative ahead of injectable drugs,” said Brian Wong, M.D., Ph.D., President, and CEO of RAPT. In contrast, there was a 17% improvement of patients in the placebo group. The results showed a 36.3% improvement in EASI (Eczema Area and Severity Index) score from baseline for the patients who were treated with RPT193. RAPT stock spiked yesterday after it released positive trial results for its Phase 1b clinical trial of RPT193. It also has several other targets under development but these are in the discovery stage. The company has discovered and advanced two unique drug candidates, FLX475 and RPT193 for cancer and inflammation. Rapt Therapeutics is a clinical-stage biopharmaceutical company working on advancing the treatment for cancer and inflammation. What’s the forecast for the stock in 2021 and is it a good stock to buy in June 2021?
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Rapt Therapeutics (RAPT) stock rose over 115% yesterday and is trading higher in US premarket price action today also.