Rhythm Pharmaceuticals (RYTM) Likely to See Widespread Use According to KOL Call - Stifel

March 15, 2021 8:56 AM EDT
Get Alerts RYTM Hot Sheet
Price: $21.22 +2.91%

Rating Summary:
    6 Buy, 1 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 10 | New: 13
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Stifel analyst Derek Archilia reiterated a Buy rating and $60.00 price target on Rhythm Pharmaceuticals (NASDAQ: RYTM) noting that shares are trading below levels prior to both setmelanotide's (IMCIVREE) positive Ph3 in BBS and Ph2 basket trial results. The analyst hosted a call with 2 KOLs who were very impressed by setmelanotide's data to date and expect to offer it to every patient who qualifies.

The analyst stated "the KOLs viewed setmelanotide's weight loss (≥5% of body weight) as clinically meaningful because these patients are unable to slow, stop, or reverse their weight gain. They noted that the patients who do respond on setmelanotide therapy seem to respond exceedingly well. Given that the placebo rates are likely to be low in these patients and the fact there are so few of them with these rare obesities, they feel focusing on the responder efficacy is the best way to interpret the clinical data because that is how it will ultimately be used in clinical practice. They indicated they would offer the drug to everyone who qualified because there are no available therapies and a 3-month trial treatment period is a reasonable approach to identify responders who will ultimately benefit from long-term therapy, meaning only responders will likely remain on drug. Lastly, they don't expect the safety or dosing profile (i.e. nausea/vomiting, tanning, daily injectable administration) to meaningfully impact use — like with any therapy, side effects will cause some patients to churn but nothing significant, in their view."

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 $26.09 yesterday.



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