Wells Fargo Boosts RAPT Therapeutics (RAPT) PT to $48 on Promising Anti-IgE Drug Data

RAPT Therapeutics Inc. (NASDAQ:RAPT) is one of the hot stocks to buy with huge upside potential. On October 21, Wells Fargo raised the firm’s price target on Rapt Therapeutics to $48 from $38 and kept an Overweight rating on the shares. This announcement was made as the firm noted that data from its partner’s CSU (Chronic Spontaneous Urticaria) study suggests that the drug’s efficacy is either comparable to or numerically better than XOLAIR, even when dosed only every 12 weeks.

XOLAIR helps decrease symptoms and the frequency of asthma attacks, hives, nasal polyps, and allergic reactions to food. Rapt Therapeutics’ anti-IgE antibody therapy (RPT904) is similar to XOLAIR for multiple food allergies. Since the drug has the same epitope (the part of an antigen that the antibody binds to) as XOLAIR, Wells expects this strong efficacy to translate to Food Allergy. This represents a large market that could support blockbuster sales, even if the drug is priced competitively with a biosimilar.

RAPT Therapeutics Inc. (NASDAQ:RAPT) is a clinical-stage immunology-based biopharmaceutical company that discovers, develops, and commercializes oral small-molecule therapies for patients with unmet needs in oncology and inflammatory diseases in the US.

While we acknowledge the potential of RAPT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.