Bank of America Corporation Initiates Coverage on Rhythm Pharmaceuticals, Inc. (RYTM)

Bank of America Corporation started coverage on shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in a research report issued on Monday. The brokerage set a “buy” rating and a $30.00 price target on the stock. Bank of America Corporation’s price objective would suggest a potential upside of 22.70% from the stock’s previous close.

Separately, Cowen and Company started coverage on shares of Rhythm Pharmaceuticals in a report on Monday. They issued an “outperform” rating and a $40.00 price target on the stock.

Shares of Rhythm Pharmaceuticals (NASDAQ RYTM) traded up 2.91% during midday trading on Monday, hitting $25.13. 190,286 shares of the stock were exchanged. The stock’s market cap is $655.24 million. Rhythm Pharmaceuticals has a 12 month low of $21.38 and a 12 month high of $33.81. The firm has a 50 day moving average of $24.24 and a 200-day moving average of $24.24.

COPYRIGHT VIOLATION WARNING: This report was reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.com-unik.info/2017/10/31/bank-of-america-corporation-initiates-coverage-on-rhythm-pharmaceuticals-inc-rytm.html.

In other Rhythm Pharmaceuticals news, insider James E. Flynn bought 355,000 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $6,035,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Bros. Advisors Lp Baker bought 885,000 shares of the company’s stock in a transaction on 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 disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,285,000 shares of company stock worth $21,845,000.

About Rhythm Pharmaceuticals

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.

What are top analysts saying about Rhythm Pharmaceuticals Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Rhythm Pharmaceuticals Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit