Rhythm Pharmaceuticals, Inc. (RYTM) Coverage Initiated at Needham & Company LLC

Stock analysts at Needham & Company LLC began coverage on shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in a research note issued on Monday. The firm set a “buy” rating and a $32.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 34.91% from the company’s current price.

A number of other research firms also recently weighed in on RYTM. Bank of America Corporation began coverage on shares of Rhythm Pharmaceuticals in a report on Monday. They set a “buy” rating on the stock. Cowen and Company began coverage on shares of Rhythm Pharmaceuticals in a report on Monday. They set an “outperform” rating on the stock.

Shares of Rhythm Pharmaceuticals (RYTM) opened at 23.72 on Monday. The firm’s market capitalization is $618.48 million. The company has a 50-day moving average price of $24.23 and a 200 day moving average price of $24.23. Rhythm Pharmaceuticals has a one year low of $21.38 and a one year high of $33.81.

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In other Rhythm Pharmaceuticals news, insider Bros. Advisors Lp Baker purchased 885,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $15,045,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider James E. Flynn purchased 355,000 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $6,035,000.00. The disclosure for this purchase can be found here. Insiders have bought a total of 1,285,000 shares of company stock worth $21,845,000 in the last 90 days.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of peptide therapeutics for the treatment of rare genetic deficiencies that result in life-threatening metabolic disorders. The Company’s lead peptide product candidate is setmelanotide, a potent, first-in-class melanocortin-4 receptor, or MC4R, agonist for the treatment of rare genetic disorders of obesity.

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