Morgan Stanley started coverage on shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in a research report report published on Monday morning. The brokerage issued an equal weight rating and a $23.00 price target on the stock.
Other analysts also recently issued reports about the stock. Needham & Company LLC began coverage on shares of Rhythm Pharmaceuticals in a report on Monday. They issued a buy rating and a $32.00 price target for the company. Bank of America Corporation began coverage on shares of Rhythm Pharmaceuticals in a report on Monday. They issued a buy rating and a $30.00 price target for the company. Finally, Cowen and Company began coverage on shares of Rhythm Pharmaceuticals in a report on Monday. They issued an outperform rating and a $40.00 price target for the company.
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In other Rhythm Pharmaceuticals news, insider Bros. Advisors Lp Baker acquired 885,000 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was bought at an average price of $17.00 per share, for a total transaction of $15,045,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder S.A. Ipsen acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, October 10th. The stock was acquired at an average price of $17.00 per share, with a total value of $340,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,285,000 shares of company stock valued at $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.
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