Rhythm Pharmaceuticals Inc (RYTM) Gets a Buy Rating from Ladenburg Thalmann & Co.

By Jason Carr

Ladenburg Thalmann & Co. analyst Michael Higgins maintained a Buy rating on Rhythm Pharmaceuticals Inc (RYTMResearch Report) today and set a price target of $43. The company’s shares closed last Monday at $21.08.

Higgins said:

“We’ve learned from management that the yield will be broken out by patient type. We continue to look for ~2,500 identified and diagnosed MC4R patients in the U.S., with roughly half of them being BBS patients (see Exhibit 4). While management has not provided its internal estimates, it has now stated the number of BBS/Alström patients has exceeded its expectations.”

According to TipRanks.com, Higgins has currently no stars on a ranking scale of 0-5 stars, with an average return of -11.9% and a 30.6% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Armata Pharmaceuticals Inc, Achieve Life Sciences Inc, and Palatin Technologies Inc.

Currently, the analyst consensus on Rhythm Pharmaceuticals Inc is a Strong Buy with an average price target of $39.60.

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Based on Rhythm Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $42.8 million. In comparison, last year the company had a GAAP net loss of $14.41 million.

Based on the recent corporate insider activity of 22 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.