They are now seven games behind the Celtics in the loss column but the Celtics have the tie-breaker.
The Raptors have been playing close to .700 ball over the last 20 or so games.
They have 35 games left of which 19 are at home where right now they are hotter than a pistol.
I think best case is that the Raptors win 24 or 25 of their remaining 35 games. If they win 24 of their remaining games including beating Boston in April then the Raptors will finish 49 - 33. The Celtics would then have to win no more than 19 of their 38 remaining games; i.e. .500 (21 at home vs 17 on the road) for the Raptors to finish ahead of the Celtics. The Celtics are 4-6 in their last 10 games.
Is it more than just a mathematical possibility at this point? I would say that it is definitely a very long shot, but it is possible. My guess is that the Raptors will win finish 48-34 and the Celtics 51 - 31.