Wells Fargo raised the firm’s price target on Rhythm Pharmaceuticals (RYTM) to $80 from $53 and keeps an Overweight rating on the shares. The firm is increasing its probability of success for IMCIVREE’s Phase 3 trial in HO after obesity week and has added risk adjusted value for RM-718/LB54640 for the company’s MC4R franchise. Wells expects shares to move higher into multiple 2025 catalysts.
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