H.C. Wainwright analyst Raghuram Selvaraju lowered the firm’s price target on Rhythm Pharmaceuticals (RYTM) to $100 from $110 and keeps a Buy rating on the shares. The firm removed projected sales of setmelanotide in the SRC1/SH2B1 patient sub-population from the company’s model following the EMANATE Phase 3 data miss.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
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 lowered to $130 from $140 at RBC Capital
- Maintaining a Buy: Setmelanotide’s PDUFA Catalyst and Subgroup Signals Offset EMANATE Miss
- Rhythm Pharmaceuticals price target lowered to $139 from $145 at BofA
- Maintained Buy on Rhythm Pharmaceuticals: EMANATE Setback Offset by Core Obesity Franchise and Pipeline Upside
- Rhythm Pharmaceuticals price target lowered to $136 from $150 at Morgan Stanley