Wells Fargo Remains a Buy on Rhythm Pharmaceuticals (RYTM)

In a report released today, Derek Archila from Wells Fargo maintained a Buy rating on Rhythm Pharmaceuticals (RYTM – Research Report), with a price target of $52.00. The company’s shares closed yesterday at $38.45.

Archila covers the Healthcare sector, focusing on stocks such as Argenx Se, Nurix Therapeutics, and Celldex. According to TipRanks, Archila has an average return of 6.4% and a 41.93% success rate on recommended stocks.

Currently, the analyst consensus on Rhythm Pharmaceuticals is a Strong Buy with an average price target of $56.29, representing a 46.40% upside. In a report released on April 16, Bank of America Securities also maintained a Buy rating on the stock with a $49.00 price target.

Based on Rhythm Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $22.5 million and a GAAP net loss of $44.16 million. In comparison, last year the company earned a revenue of $4.28 million and had a GAAP net loss of $40.86 million

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Rhythm Pharmaceuticals (RYTM) Company Description:

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.