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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Read More on RYTM:
- Rhythm Pharmaceuticals price target raised to $80 from $70 at H.C. Wainwright
- Positive Phase 3 Results and Market Potential Boost Rhythm Pharmaceuticals’ Price Target
- Rhythm Pharmaceuticals price target raised to $77 from $72 at Morgan Stanley
- Promising Phase 3 Results for Setmelanotide in Hypothalamic Obesity Drive Buy Rating
- BofA upgrades Rhythm Pharmaceuticals to Buy on ‘likely approvable’ data