Rhythm Pharmaceuticals (RYTM) PT Increased From $136 to $143 at Wells Fargo on IMCIVREE Launch Optimism

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TheFly reported on March 12 that Wells Fargo increased its price target for RYTM to $143 from $136 while keeping an Overweight rating on the stock. The update reflects slightly higher revenue projections and greater confidence in the launch of IMCIVREE for hypothalamic obesity. Discussions with physicians treating early patient populations post-approval reinforced the firm’s view of the therapy’s peak market potential.

Separately, on March 1, Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) released new 52-week results from its global Phase 3 TRANSCEND trial evaluating setmelanotide in patients with acquired hypothalamic obesity (HO). The updated dataset included 12 patients from a Japanese cohort and 10 additional participants beyond the original 120-patient pivotal cohort. Results showed a 16.4% mean reduction in BMI for treated patients compared with a 2.4% increase in the placebo group at 52 weeks, with a placebo-adjusted difference of 18.8%. Among patients aged 12 and older, weekly average hunger scores declined by 2.5 points in the setmelanotide group versus 1.3 points in the placebo group.

RYTM emphasized that these findings reinforce the therapy’s potential as the first treatment addressing the hyperphagia, reduced energy expenditure, and rapid weight gain associated with acquired HO, supporting ongoing regulatory discussions and submission plans in the U.S., Europe, and Japan.

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) is a biopharmaceutical company developing therapies for rare genetic disorders of obesity by targeting appetite regulation pathways.

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