Citizens analyst Jason Butler reiterated a Market Outperform rating and $80.00 price target on Rapport Therapeutics (NASDAQ: RAPP).

The analyst commented, "Negative competitor Phase 3 results in FOS reinforce our view in RAP-219 differentiation, both in terms of the candidate’s profile and its innovative Phase 2a trial; we reiterate our Market Outperform rating and $80 risk-adjusted, DCF-derived price target on Rapport Therapeutics (RAPP). Yesterday afternoon, Praxis (PRAX, NC) reported negative results from the Phase 3 POWER1 trial evaluating vormatrigine in adults with focal onset seizures. In our view, these results reinforce the differentiated profile of RAP-219, as well as its innovative and predictive development program and blockbuster commercial potential. Our key take away from the vormatrigine results is that the RAP-219 Phase 2a results have a substantially higher likelihood of proving predictive of confirmation in the Phase 3 program due to the innovative use of an objective biomarker (i.e., long episodes) that had high correlation with the improvement in clinical seizure frequency."

For an analyst ratings summary and ratings history on Rapport Therapeutics click here. For more ratings news on Rapport Therapeutics click here.

Shares of Rapport Therapeutics closed at $37.11 yesterday.