Citizens JMP Keeps Market Outperform Rating on Rhythm Pharmaceuticals (RYTM)

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) is one of the 10 Hot Mid Cap Stocks to Buy Now. On August 21, Citizens JMP reaffirmed a Market Outperform rating on Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) with a price target of $135.

This decision came after Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) reported that the FDA has accepted for filing the company’s supplemental New Drug Application (sNDA) for review with Priority status for setmelanotide for hypothalamic obesity.

The firm sees a big market opportunity for setmelanotide in hypothalamic obesity. Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) estimates between 5,000 and 10,000 patients in the US, which represents a potential market worth $2 to $4 billion. There is a similar number of patients in Europe, but the market size may be smaller because of pricing adjustments.

Citizens JMP estimates Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) could see peak sales for setmelanotide reach $1.5 billion in the US, $340 million in Europe, and $180 million in Japan. The company expects Phase 3 data from Japan in the first quarter of 2026.

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) is a commercial-stage biopharmaceutical company focused on developing and commercializing precision medicines for rare neuroendocrine diseases.

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