BofA upgraded Rhythm Pharmaceuticals (RYTM) to Buy from Neutral with a price target of $63, up from $60, calling setmelanotide “likely approvable” based on topline results from the pivotal Phase 3 TRANSCEND trial evaluating the drug for the treatment of acquired hypothalamic obesity. The recent pullback in the shares offers “additional upside opportunity” given how the firm models the pipeline and commercial opportunities, the analyst tells investors.
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Read More on RYTM:
- Rhythm Pharmaceuticals upgraded to Buy from Neutral at BofA
- Promising Phase 3 Results for Setmelanotide Boost Rhythm Pharmaceuticals’ Market Potential
- Rhythm Pharmaceuticals Announces Positive Phase 3 Trial Results
- Rhythm Pharmaceuticals says Phase 3 TRANSCEND trial meets primary endpoint
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