In a report released today, Derek Archila from Stifel Nicolaus reiterated a Buy rating on Rhythm Pharmaceuticals (RYTM), with a price target of $36.00. The company’s shares closed last Monday at $21.26.
According to TipRanks.com, Archila is a 4-star analyst with an average return of 9.3% and a 46.2% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Madrigal Pharmaceuticals, and Phasebio Pharmaceuticals.
Currently, the analyst consensus on Rhythm Pharmaceuticals is a Strong Buy with an average price target of $39.50, a 74.5% upside from current levels. In a report issued on October 27, Canaccord Genuity also maintained a Buy rating on the stock with a $37.00 price target.
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The company has a one-year high of $32.24 and a one-year low of $12.99. Currently, Rhythm Pharmaceuticals has an average volume of 293.4K.
Based on the recent corporate insider activity of 31 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 firm rapidly develops setmelanotide for rare genetic disorders of obesity caused by MC4 pathway deficiencies and provides advance setmelanotide for POMC deficiency obesity and LEPR deficiency obesity as first indications in upstream MC4 pathway deficiencies. The company was founded by Bart Henderson in February 2010 and is headquartered in Boston, MA.
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