Canaccord Genuity Maintained a Buy Rating on Rhythm Pharmaceuticals (RYTM)

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) is one of the Best All-Time High Stocks to Buy According to Analysts. On July 28, Whitney Ijem from Canaccord Genuity maintained a Buy rating on Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) with a price target of $105.

The analyst highlighted a recent survey of healthcare professionals, which shows high expectations of a rapid adoption of the company’s setmelanotide. The survey predicts a penetration rate of 51% by the third year of its launch. Ijem believes this presents significant upside for the company.

Moreover, new dosing options like oral pills or once-weekly shots are also likely to increase setmelanotide’s appeal as they are easier to administer compared to daily doses. The stock has already surged more than 54% this year and is trading close to its all-time high. Ijem believes there’s more room for growth.

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) is a commercial-stage biopharmaceutical company that develops precision medicines for rare genetic diseases of obesity.

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Disclosure: None. This article is originally published at Insider Monkey.