In a report released yesterday, Derek Archila from Stifel Nicolaus maintained a Hold rating on Rhythm Pharmaceuticals Inc (RYTM), with a price target of $36. The company’s shares closed on Friday at $29.35.
Archila wrote:
“We update our model accordingly. Overall, our thesis remains unchanged and while we continue to model a high POS for setmelanotide as a treatment for rare genetic obesity disorders, we feel this is largely factored into the stock, and ultimately the lack of near-term catalysts and questions around the size of the commercial opportunity for POMC and LepR deficiency obesities keeps us on the sidelines for now. The company continues to make good progress in its setmelanotide Phase 3 programs and we think any incremental updates on the status of its TEMPO registry efforts to identify patients with genetic obesities, particularly ones which could be treated with setmelanotide, could prove to be positive catalysts if it looks like the prevalence of these disorders are greater than clinical epidemiology/literature has shown. We maintain our Hold rating and $36 target price.”
According to TipRanks.com, Archila ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.5% and a 35.9% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Pacira Pharmaceuticals, and Aimmune Therapeutics.
Currently, the analyst consensus on Rhythm Pharmaceuticals Inc is a Moderate Buy with an average price target of $38.
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Based on Rhythm Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.41 million. In comparison, last year the company had a GAAP net loss of $11.43 million.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RYTM in relation to earlier this year.
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Rhythm Pharmaceuticals, Inc. develops and commercializes peptide therapeutics for the treatment of gastrointestinal diseases and genetic deficiencies. It focuses on the treatment for Prader-Willi Syndrome and Pro-Opiomelanocortin deficiency obesity. The company was founded by Bart Henderson in February 2010 and is headquartered in Boston, MA.
