Morgan Stanley analyst Michael Ulz raised the firm’s price target on Rhythm Pharmaceuticals (RYTM) to $95 from $80 and keeps an Overweight rating on the shares. Phase 2 data for bivamelagon in hypothalamic obesity indicate reductions in BMI above the 10% bar, in the range of setmelanotide with an improved profile, which supports the advancement into Phase 3, expected in the first half of 2026, the analyst tells investors in a research note. Early data confirm the potential for bivamelagon to expand or extend the opportunity in HO, the firm says.
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 $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