Cowen and Company Reiterates Buy Rating for Rhythm Pharmaceuticals, Inc. (RYTM)

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)‘s stock had its “buy” rating reiterated by research analysts at Cowen and Company in a research note issued to investors on Tuesday. They presently have a $40.00 price objective on the stock. Cowen and Company’s target price suggests a potential upside of 57.11% from the company’s previous close.

The analysts wrote, “Rhythm released Q3 financials this morning, following the presentation of promising.””

Other research analysts have also issued reports about the stock. Needham & Company LLC initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 30th. They set a “buy” rating and a $32.00 target price on the stock. Bank of America Corporation initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 30th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Morgan Stanley assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 30th. They set an “equal weight” rating and a $23.00 target price on the stock.

Shares of Rhythm Pharmaceuticals (RYTM) traded up $1.25 during midday trading on Tuesday, reaching $25.46. 100,300 shares of the company traded hands, compared to its average volume of 284,493. Rhythm Pharmaceuticals has a fifty-two week low of $21.38 and a fifty-two week high of $33.81.

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In other Rhythm Pharmaceuticals news, insider Bros. Advisors Lp Baker acquired 885,000 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were purchased at an average cost of $17.00 per share, with a total value of $15,045,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder S.A. Ipsen acquired 20,000 shares of the company’s stock in a transaction on Tuesday, October 10th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $340,000.00. The disclosure for this purchase can be found here. Insiders acquired 1,285,000 shares of company stock worth $21,845,000 over the last ninety days.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of peptide therapeutics for the treatment of rare genetic deficiencies that result in life-threatening metabolic disorders. The Company’s lead peptide product candidate is setmelanotide, a potent, first-in-class melanocortin-4 receptor, or MC4R, agonist for the treatment of rare genetic disorders of obesity.

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