Rhythm Pharmaceuticals price target raised to $109 from $100 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Rhythm Pharmaceuticals (RYTM) to $109 from $100 and keeps an Overweight rating on the shares ahead of “multiple catalysts” by year-end. The firm says the focus remains on hypothalamic obesity, which meaningfully expands the market opportunity and greater clarity on commercial readiness is expected next month, while the setmelanotide regulatory filing remains on track for 3Q25, the analyst tells investors in a research note.