BofA raised the firm’s price target on Rhythm Pharmaceuticals (RYTM) to $95 from $73 and keeps a Buy rating on the shares. The company reported positive topline results for the Phase 2 trial evaluating bivamelagon in hypothalamic obesity, the analyst tells investors in a research note. The firm is “encouraged” by the update, saying it suggests an efficacy profile similar to setmelanotide but with more convenient once-daily oral dosing.
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Read More on RYTM:
- Rhythm Pharmaceuticals price target raised to $123 from $94 at Stifel
- Rhythm Pharmaceuticals price target raised to $129 from $91 at Wells Fargo
- Rhythm Pharmaceuticals: Promising Phase 2 Results and Extended Market Exclusivity Boost Price Target
- Rhythm reports bivamelagon achieved statistically significant BMI reductions
- Rhythm Pharmaceuticals initiated with an Outperform at Leerink