Rhythm Pharmaceuticals (RYTM – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Jonathan Wolleben from JMP Securities reiterated a Buy rating on the stock and has a $81.00 price target.
Jonathan Wolleben has given his Buy rating due to a combination of factors, primarily focusing on Rhythm Pharmaceuticals’ strong commercial execution and promising pipeline developments. The company’s Phase 3 data for setmelanotide in hypothalamic obesity (HO) is anticipated in the next quarter, with a high probability of success based on previous Phase 2 results showing significant BMI reductions. This potential success could expand the addressable patient population significantly in the U.S., Europe, and Japan.
Moreover, Rhythm Pharmaceuticals ended the year with a robust cash position, which is expected to support operations through 2027, allowing the company to navigate multiple strategic milestones. The commercial dynamics of Imcivree are favorable, with growth expected in existing and new indications. Upcoming data for other pipeline candidates, such as bivamelagon and RM-718, could further enhance the company’s market opportunities and extend its revenue potential. These factors collectively underpin Wolleben’s confidence in the stock’s potential performance.
Wolleben covers the Healthcare sector, focusing on stocks such as Larimar Therapeutics, Structure Therapeutics, Inc. Sponsored ADR, and Protagonist Therapeutics. According to TipRanks, Wolleben has an average return of 3.7% and a 39.48% success rate on recommended stocks.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $65.00 price target.