Morgan Stanley analyst Michael Ulz reiterated a Buy rating on Rhythm Pharmaceuticals (RYTM – Research Report) yesterday and set a price target of $80.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Michael Ulz has given his Buy rating due to a combination of factors that highlight the strong potential of Rhythm Pharmaceuticals. The company’s product, Imcivree, has demonstrated robust demand, with sales aligning closely with market expectations. Despite a slight sequential decline in sales, the underlying demand remains strong, supported by a recent price increase and an expanding patient base.
Furthermore, upcoming data releases are anticipated to further bolster the company’s prospects. The next-generation bivamelagon Phase 2 data and new setmelanotide Phase 3 data have shown promising results, confirming significant benefits across different age groups. These developments, along with regulatory filings for setmelanotide that are progressing as planned, have led to an increased price target, reflecting confidence in the company’s future growth potential.
According to TipRanks, Ulz is an analyst with an average return of -5.0% and a 36.64% success rate. Ulz covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Sarepta Therapeutics, and Viking Therapeutics.
In another report released yesterday, Needham also reiterated a Buy rating on the stock with a $72.00 price target.