Oppenheimer Reiterates Outperform Rating on Rhythm Pharmaceuticals (RYTM)

Oppenheimer analyst Leland Gershell reiterated an Outperform rating and $76.00 price target on Rhythm Pharmaceuticals (NASDAQ: RYTM).

The analyst commented: "We followed up with expert Dr. Brian DeBosch following yesterday morning's positive Phase 3 hypothalamic obesity (HO) results. We come away from the discussion with increased conviction in our $1.5B+ peak worldwide sales projection in this indication alone. Key points: 1) setmelanotide's superlative efficacy positions it as HO standard-of-care; 2) he now qualifies his 75% use estimate among his patients as conservative; and, 3) he regards the drug-related serious adverse event (SAE) as likely incidental. We see RYTM as standing in front of an anticipated mid-2026 US launch that will reflect brisk uptake—akin to our outlook on SLNO which is entering commercial. We expect shares to grind higher and would take advantage of the muted post-data share appreciation for which we blame broader market turmoil."

For an analyst ratings summary and ratings history on Rhythm Pharmaceuticals click here. For more ratings news on Rhythm Pharmaceuticals click here.

Shares of Rhythm Pharmaceuticals closed at $54.96 yesterday.

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