Rhythm Pharmaceuticals (NASDAQ:RYTM) reported better-than-expected first-quarter financial results on Tuesday.
Rhythm Pharmaceuticals posted quarterly losses of 83 cents per share, beating market estimates of losses of 84 cents per share. The company's sales came in at $60.112 million surpassing market estimates of $55.776 million.
“The U.S and European approvals of IMCIVREE mark a transformational milestone for patients with acquired hypothalamic obesity (HO) who, until now, had no approved therapies for this devastating disease,” said David Meeker, M.D., Chairman, Chief Executive Officer and President of Rhythm Pharmaceuticals. “The U.S. launch is off to a strong start, as patient demand and physician engagement in this early stage of the launch reinforce the significant unmet need and long-term opportunity in acquired HO. With European Commission authorization for acquired HO earlier than expected, we look forward to engaging with country-level officials with launches anticipated in 2027. We are progressing rapidly in Japan for acquired HO, as well; regulatory review is underway, and if approved, we anticipate launching there in the second half of 2026.”
Rhythm Pharmaceuticals shares gained 2.6% to trade at $94.66 on Wednesday.
These analysts made changes to their price targets on Rhythm Pharmaceuticals following earnings announcement.
- Wells Fargo analyst Derek Archila maintained Rhythm Pharmaceuticals with an Overweight rating and raised the price target from $143 to $144.
- RBC Capital analyst Lisa Walter maintained the stock with an Outperform rating and raised the price target from $136 to $137.
Considering buying RYTM stock? Here’s what analysts think:
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