Rhythm Pharmaceuticals price target raised to $52 from $48 at BofA

BofA raised the firm’s price target on Rhythm Pharmaceuticals to $52 from $48 and keeps a Neutral rating on the shares. The firm is encouraged by the continued steady growth for the Imcivree franchise despite the Medicaid setback in 1 state earlier this year, the analyst tells investors. The firm maintains its rating, given the view that the stock’s current valuation properly accounts for Imcivree’s launch trajectory and potential upside opportunity from pipeline programs.