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

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have been given an average recommendation of “Buy” by the thirteen research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, ten have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $66.25.

A number of research analysts have recently issued reports on the stock. BTIG Research raised their price target on shares of Rapport Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, September 16th. Wall Street Zen lowered shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. HC Wainwright raised their target price on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Leerink Partners assumed coverage on Rapport Therapeutics in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 target price for the company. Finally, UBS Group set a $80.00 target price on Rapport Therapeutics in a research note on Wednesday.

Rapport Therapeutics Price Performance

Shares of RAPP opened at $33.91 on Friday. The stock has a market capitalization of $1.63 billion, a PE ratio of -11.15 and a beta of 1.02. The business’s fifty day moving average price is $44.43 and its 200 day moving average price is $38.81. Rapport Therapeutics has a 12-month low of $23.75 and a 12-month high of $52.93.

Rapport Therapeutics (NASDAQ:RAPP) last released its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.07). As a group, research analysts anticipate that Rapport Therapeutics will post -4.09 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Abraham Ceesay sold 2,210 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $39.17, for a total transaction of $86,565.70. Following the completion of the transaction, the chief executive officer owned 456,767 shares in the company, valued at $17,891,563.39. The trade was a 0.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 83,454 shares of company stock valued at $3,945,181. Company insiders own 12.48% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Large investors have recently added to or reduced their stakes in the stock. TRV GP V LLC bought a new stake in Rapport Therapeutics in the second quarter valued at $261,709,477. ARCH Venture Management LLC acquired a new stake in shares of Rapport Therapeutics in the 2nd quarter worth about $155,376,512. Goldman Sachs Group Inc. increased its holdings in shares of Rapport Therapeutics by 23.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock worth $91,077,000 after acquiring an additional 579,903 shares during the period. BlackRock Inc. bought a new stake in Rapport Therapeutics in the 2nd quarter valued at about $112,500,000. Finally, Johnson & Johnson bought a new stake in Rapport Therapeutics in the 2nd quarter valued at about $74,360,823.

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.