Morgan Stanley raised the firm’s price target on Rhythm Pharmaceuticals (RYTM) to $129 from $122 and keeps an Overweight rating on the shares. The firm believes commercial experience in Bardet-Biedl syndrome sets the stage for “meaningful label expansion” in hypothalamic obesity later this year, noting that the company has an associated PDUFA deadline of December 20.
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- Rhythm Pharmaceuticals price target raised to $122 from $109 at Morgan Stanley