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H.C. Wainwright upgraded Rapt Therapeutics (RAPT) to Buy from Neutral with a $10 price target after Rapt and a subsidiary of Jiangxi Jemincare Group, a leading pharmaceutical company in China, announced that they have entered into an exclusive license agreement for JYB1904, or RPT904, a clinical-stage, half-life extended anti-immunoglobulin E monoclonal antibody. Rapt plans to pursue development of RPT904 initially in food allergy, which is a market that represents “a large and lucrative niche,” the analyst tells investors.
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