Morgan Stanley analyst Michael Ulz lowered the firm’s price target on Rhythm Pharmaceuticals (RYTM) to $136 from $150 and keeps an Overweight rating on the shares. Though the Phase 3 EMANATE trial evaluating setmelanotide in patients with obesity associated with heterozygous variants in MC4R-pathway genes missed the primary endpoint, the firm notes expectations were low and says data suggests potential in two substudies.
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Read More on RYTM:
- Rhythm Pharmaceuticals price target lowered to $131 from $136 at Citi
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- Rhythm Pharmaceuticals Reports Mixed Phase 3 EMANATE Results
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