Rhythm Pharmaceuticals price target raised to $149 from $139 at BofA

BofA analyst Tazeen Ahmad raised the firm’s price target on Rhythm Pharmaceuticals (RYTM) to $149 from $139 and keeps a Buy rating on the shares after the company announced FDA approval of setmelanotide for acquired hypothalamic obesity, noting a broad label with “no material surprises” and no post-marketing commitments. The firm views Rhythm as “a leader in the rare obesity space with more opportunities for upside from next-gen assets and follow-on indications,” the analyst tells investors.