H.C. Wainwright Raises Rapport Therapeutics (NASDAQ: RAPP) Price Target to $66 Following Positive RAP-219 Phase 2 Data

Rapport Therapeutics (NASDAQ: RAPP) stock traded at about $29.36 when H.C. Wainwright maintained its Buy rating and raised its price target from $40.00 to $66.00. Rapport Therapeutics develops treatments for brain disorders. Its lead drug candidate, RAP-219, is being studied for acute bipolar mania and focal epilepsy.

The higher target follows positive results from a Phase 2 trial of RAP-219 in adults with acute bipolar mania. The trial met its main goal, giving the company evidence that the drug’s targeted approach may work. The results support moving RAP-219 toward late-stage testing, though it is not yet approved.

At Week 3, patients taking RAP-219 improved by 3.1 more points than those taking a placebo on the Young Mania Rating Scale, which measures symptom severity. They also improved by 0.4 more points on a second mania scale. Patients taking the drug had an average 15.4-point reduction from their starting mania score.

Rapport Therapeutics says the results, together with positive Phase 2 data in focal epilepsy, support RAP-219’s potential in two markets it views as worth billions of dollars. Jefferies estimates the drug could reach up to $1 billion in peak annual sales, as highlighted by Barron’s. That figure is a forecast, not current revenue.

Investor interest increased after the trial update. Premarket volume reached about 1.44 million shares, compared with an average of roughly 351,000. Later, the stock traded at $29.35, up $0.75, or 2.62%, on volume of 5.91 million shares. H.C. Wainwright’s $66.00 target represents an analyst estimate, not a guaranteed future price.