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Rhythm Pharmaceuticals price target raised to $92 from $81 at Canaccord

Canaccord raised the firm’s price target on Rhythm Pharmaceuticals (RYTM) to $92 from $81 and keeps a Buy rating on the shares. The firm updated its model on the back of positive setmelanotide Ph3 data for acquired HO. Based on the primary endpoint result of -19.8% placebo adjusted BMI reduction from baseline (Pless than0.0001), wthey are increasing their POS in both the US and Europe to 100% versus. 80% previously.

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