Needham analyst Joseph Stringer maintained a Buy rating on Rhythm Pharmaceuticals today and set a price target of $95.00.
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Joseph Stringer has given his Buy rating due to a combination of factors including Rhythm Pharmaceuticals’ recent financial performance and future prospects. The company reported higher-than-expected revenue for its drug IMCIVREE in the second quarter of 2025, surpassing both Needham’s and FactSet’s consensus estimates. This strong revenue performance indicates robust demand and successful market penetration.
Additionally, the company’s regulatory progress is on track, with submissions for setmelanotide in Hypothalamic Obesity expected in the third quarter of 2025. Furthermore, the upcoming data from the Phase 2 trial in Prader-Willi Syndrome is anticipated to be a significant catalyst, potentially driving further growth. These elements combined suggest a positive outlook for Rhythm Pharmaceuticals, justifying the Buy rating.
Stringer covers the Healthcare sector, focusing on stocks such as Cidara Therapeutics, Gilead Sciences, and Rhythm Pharmaceuticals. According to TipRanks, Stringer has an average return of 6.8% and a 42.86% success rate on recommended stocks.
In another report released on July 28, Canaccord Genuity also maintained a Buy rating on the stock with a $105.00 price target.