UPDATE: BofA Securities Downgrades Rhythm Pharmaceuticals (RYTM) to Underperform

August 4, 2021 6:51 AM EDT
Get Alerts RYTM Hot Sheet
Price: $13.47 -2.18%

Rating Summary:
    5 Buy, 2 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 12 | New: 30
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(Updated - August 4, 2021 6:52 AM EDT)

BofA Securities analyst Tazeen Ahmad downgraded Rhythm Pharmaceuticals (NASDAQ: RYTM) from Neutral to Underperform with a price target of $17.00 (from $33.00).

The analyst comments "We rate RYTM shares Underperform. While we believe RYTM's lead asset Imcivree will address a severe unmet need in rare forms of early-onset obesity caused by genetic mutations, we note that the small target populations may result in a gradual launch and high price of medication may present persistent payor coverage. We model ex-US revenues as 30% of the US."

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 $16.63 yesterday.

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