Rhythm Pharmaceuticals (NASDAQ:RYTM) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.
A number of other research firms have also commented on RYTM. Cowen restated a “buy” rating and issued a $40.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 14th. Needham & Company LLC restated a “buy” rating and issued a $32.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 14th. Morgan Stanley assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 30th. They issued an “equal weight” rating and a $23.00 price objective on the stock. Finally, Bank of America assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 30th. They issued a “buy” rating and a $30.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Rhythm Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $31.25.
Rhythm Pharmaceuticals (NASDAQ RYTM) opened at $29.54 on Friday. Rhythm Pharmaceuticals has a one year low of $21.38 and a one year high of $33.81.
An institutional investor recently bought a new position in Rhythm Pharmaceuticals stock. MPM Asset Management LLC bought a new stake in Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,696,392 shares of the company’s stock, valued at approximately $78,357,000. Rhythm Pharmaceuticals makes up about 31.4% of MPM Asset Management LLC’s portfolio, making the stock its 2nd largest holding. MPM Asset Management LLC owned about 9.88% of Rhythm Pharmaceuticals at the end of the most recent quarter. Institutional investors own 0.12% of the company’s stock.
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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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