Rhythm Pharmaceuticals, Inc. (RYTM) Given “Buy” Rating at Cowen and Company
Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)‘s stock had its “buy” rating reaffirmed by stock analysts at Cowen and Company in a note issued to investors on Tuesday. They currently have a $40.00 price objective on the stock. Cowen and Company’s price target points to a potential upside of 57.11% from the stock’s current price.
The analysts wrote, “Rhythm released Q3 financials this morning, following the presentation of promising.””
A number of other equities research analysts have also weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $32.00 price objective on shares of Rhythm Pharmaceuticals in a report on Tuesday. Morgan Stanley started coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 30th. They set an “equal weight” rating and a $23.00 price target for the company. Finally, Bank of America Corporation initiated coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 30th. They set a “buy” rating and a $30.00 price target for the company.
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In related news, Director David P. Meeker acquired 25,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was acquired at an average cost of $17.00 per share, with a total value of $425,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider James E. Flynn acquired 355,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were bought at an average cost of $17.00 per share, with a total value of $6,035,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,285,000 shares of company stock worth $21,845,000.
Rhythm Pharmaceuticals Company Profile
Rhythm Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of peptide therapeutics for the treatment of rare genetic deficiencies that result in life-threatening metabolic disorders. The Company’s lead peptide product candidate is setmelanotide, a potent, first-in-class melanocortin-4 receptor, or MC4R, agonist for the treatment of rare genetic disorders of obesity.
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