In a report released today, Joseph Stringer from Needham maintained a Buy rating on Rhythm Pharmaceuticals (RYTM – Research Report), with a price target of $25.00. The company’s shares closed last Friday at $20.24.
Stringer covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Rhythm Pharmaceuticals, and Lexicon Pharmaceuticals. According to TipRanks, Stringer has an average return of 0.3% and a 45.18% success rate on recommended stocks.
Rhythm Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $26.57, which is a 31.27% upside from current levels. In a report released yesterday, Goldman Sachs also upgraded the stock to a Buy with a $28.00 price target.
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Based on Rhythm Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $9.07 million and a GAAP net loss of $45 million. In comparison, last year the company earned revenue of $274 thousand and had a GAAP net loss of $35.39 million
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Rhythm Pharmaceuticals, Inc. develops and commercializes peptide therapeutics for the treatment of gastrointestinal diseases and genetic deficiencies. It focuses on the treatment for Prader-Willi Syndrome and Pro-Opiomelanocortin deficiency obesity. The firm rapidly develops setmelanotide for rare genetic disorders of obesity caused by MC4 pathway deficiencies and provides advance setmelanotide for POMC deficiency obesity and LEPR deficiency obesity as first indications in upstream MC4 pathway deficiencies. The company was founded by Bart Henderson in February 2010 and is headquartered in Boston, MA.
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