Rhythm Pharmaceuticals Inc Receives a Buy from Cowen & Co.

By Jason Carr

In a report released today, Phil Nadeau from Cowen & Co. assigned a Buy rating to Rhythm Pharmaceuticals Inc (NASDAQ: RYTM), with a price target of $40. The company’s shares opened today at $24.02.

Nadeau said:

“Rhythm released Q3 financials this morning, following the presentation of promising.”

According to TipRanks.com, Nadeau is a 5-star analyst with an average return of 10.2% and a 51.8% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Achillion Pharmaceuticals, Catabasis Pharmaceuticals, and Voyager Therapeutics Inc.

Currently, the analyst consensus on Rhythm Pharmaceuticals Inc is Moderate Buy and the average price target is $31.67, representing a 31.8% upside.

In a report issued on October 30, Needham also initiated coverage with a Buy rating on the stock with a $32 price target.

The company has a one-year high of $33.81 and a one-year low of $21.38. Currently, Rhythm Pharmaceuticals Inc has an average volume of 523.6K.

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Rhythm Pharmaceuticals, Inc. develops and commercializes peptide therapeutics for the treatment of gastrointestinal (GI) diseases and genetic deficiencies. It focuses on the treatment for Prader-Willi Syndrome (PWS) and Pro-Opiomelanocortin (POMC) deficiency obesity.