In a report released today, Derek Archila from Stifel Nicolaus reiterated a Buy rating on Rhythm Pharmaceuticals (RYTM – Research Report), with a price target of $36.00. The company’s shares closed last Friday at $22.62.
According to TipRanks.com, Archila is a 4-star analyst with an average return of 10.2% and a 46.6% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Madrigal Pharmaceuticals, and Phasebio Pharmaceuticals.
Currently, the analyst consensus on Rhythm Pharmaceuticals is a Strong Buy with an average price target of $38.00, representing a 55.4% upside. In a report issued on October 22, Needham also assigned a Buy rating to the stock with a $42.00 price target.
The company has a one-year high of $32.24 and a one-year low of $12.99. Currently, Rhythm Pharmaceuticals has an average volume of 284K.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RYTM in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Rhythm Pharmaceuticals, Inc. develops and commercializes peptide therapeutics for the treatment of gastrointestinal diseases and genetic deficiencies. It focuses on the treatment for Prader-Willi Syndrome and Pro-Opiomelanocortin deficiency obesity. The firm rapidly develops setmelanotide for rare genetic disorders of obesity caused by MC4 pathway deficiencies and provides advance setmelanotide for POMC deficiency obesity and LEPR deficiency obesity as first indications in upstream MC4 pathway deficiencies. The company was founded by Bart Henderson in February 2010 and is headquartered in Boston, MA.