Wells Fargo analyst Derek Archila raised the firm’s price target on Rhythm Pharmaceuticals (RYTM) to $129 from $91 and keeps an Overweight rating on the shares. The firm believes shares should trade up meaningfully on biva’s positive Phase 2 results in HO, which significantly increases the probability of success that Rhythm’s MC4R franchise is durable into the mid-2040s. Wells thinks shares do not reflect this and it estimates it is worth about $35/share in upside.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RYTM:
- Rhythm Pharmaceuticals price target raised to $95 from $73 at BofA
- Rhythm Pharmaceuticals resumed with a Buy at Goldman Sachs
- Rhythm Pharmaceuticals Reports Positive Phase 2 Trial Results
- Rhythm Pharmaceuticals price target raised to $102 from $88 at Leerink
- Rhythm Pharmaceuticals announces $150M common stock offering