TD Cowen analyst Phil Nadeau has maintained their bullish stance on RYTM stock, giving a Buy rating today.
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Phil Nadeau’s rating is based on several promising developments for Rhythm Pharmaceuticals. Despite a recent dip in quarterly revenue due to destocking, the demand for Imcivree remains strong, with a notable increase in the number of reimbursed patients. This indicates a robust underlying demand that could drive future growth.
Furthermore, the positive results from the Phase III trial of Imcivree in hypothalamic obesity (HO) are encouraging. The trial demonstrated a significant reduction in BMI, consistent across age groups, and the drug maintained a favorable safety profile. These results support upcoming regulatory submissions in the U.S. and EU, which could further enhance the company’s market position. Additionally, the company’s strong cash position provides a financial runway into 2027, supporting its strategic initiatives.
In another report released today, Needham also reiterated a Buy rating on the stock with a $72.00 price target.