Wells Fargo analyst Derek Archila has reiterated their bullish stance on RYTM stock, giving a Buy rating today.
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Derek Archila has given his Buy rating due to a combination of factors surrounding Rhythm Pharmaceuticals. The company’s flagship product, IMCIVREE, has shown promising revenue growth, surpassing market expectations in the fourth quarter of 2024. Management’s confidence in expanding IMCIVREE’s label to younger patients and launching it outside the U.S. is expected to sustain this growth trajectory.
Additionally, the upcoming Phase 3 trial results for IMCIVREE in hypothalamic obesity (HO) are anticipated to be positive, which could significantly enhance the company’s market position. The potential for positive data from other pipeline products, such as bivamelagon and RM-718, further strengthens the outlook for Rhythm Pharmaceuticals. These developments, coupled with management’s potential upward revision of HO estimates, create a favorable environment for the stock to reach approximately $100 per share in the next 12-18 months.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $81.00 price target.
RYTM’s price has also changed slightly for the past six months – from $50.000 to $53.320, which is a 6.64% increase.