Rhythm Pharmaceuticals (RYTM) PT Raised to $110 at TD Cowen

TD Cowen analyst Phil Nadeau raised the price target on Rhythm Pharmaceuticals (NASDAQ: RYTM) to $110.00 (from $85.00) while maintaining a Buy rating.

The analyst comments "RYTM reported Q2 Imcivree revenue of $48.5MM (29% Q/Q), above consensus and our estimate. U.S./EU submissions for Imcivree's sNDA in HO are on track for Q3. Biva's Ph II data impresses with comparable efficacy to setmelanotide with acceptable safety. A Ph III trial is expected to start in HO in 2026. Our DCF-based PT has increased from $85 to $110 to reflect IP protection through 2040. Remain Buy."

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