Morgan Stanley assumed coverage on shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in a report released on Monday morning. The brokerage issued an equal weight rating and a $23.00 price objective on the stock.

RYTM has been the topic of a number of other research reports. Cowen and Company started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday. They issued an outperform rating and a $40.00 target price on the stock. Bank of America Corporation started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday. They issued a buy rating and a $30.00 target price on the stock. Finally, Needham & Company LLC started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday. They issued a buy rating and a $32.00 target price on the stock.

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In other news, Director David P. Meeker purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were purchased at an average price of $17.00 per share, with a total value of $425,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James E. Flynn purchased 355,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $6,035,000.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 1,285,000 shares of company stock worth $21,845,000.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of peptide therapeutics for the treatment of rare genetic deficiencies that result in life-threatening metabolic disorders. The Company’s lead peptide product candidate is setmelanotide, a potent, first-in-class melanocortin-4 receptor, or MC4R, agonist for the treatment of rare genetic disorders of obesity.

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