Canaccord Genuity Reiterates Buy Rating on Rhythm Pharmaceuticals

Canaccord Genuity has reiterated its buy rating on Rhythm Pharmaceuticals, Inc. (NasdaqGM:RYTM) with a price target of $151. Analyst Whitney Ijem made the announcement on June 16, 2026. Shares of Rhythm were trading at $89.70 at the time of the report.

Other Institutional Activity in Rhythm Pharmaceuticals

RA Capital Management, L.P. maintained its position in Rhythm Pharmaceuticals with 6,666,837 shares valued at about $579.8 million. BlackRock, Inc. reduced its holdings by 60,183 shares, ending with 6,237,151 shares worth approximately $542.4 million. Baker Bros. Advisors LP also held steady with 5,604,483 shares valued at $487.4 million. Meanwhile, Primecap Management Co/CA/ trimmed its stake by 61,160 shares to 3,417,509 shares, valued at $297.2 million. Vanguard Portfolio Management LLC and Vanguard Capital Management LLC both established new positions with 3,040,718 shares and 2,967,825 shares, valued at $264.5 million and $258.1 million respectively.

Rhythm Pharmaceuticals Stock Snapshot

Shares of Rhythm Pharmaceuticals, Inc. (NasdaqGM:RYTM) traded near $89.70. The company has a market cap of about $6.15 billion. Rhythm's forward P/E ratio isn't meaningful as the company is not yet profitable. The stock's beta is 1.923, indicating it's more volatile than the broader market. Over the past 52 weeks, the stock has ranged from a low of $60.70 to a high of $122.20. The 50-day moving average is $87.89, and the 200-day moving average is $97.91. The company has a strong current ratio of 4.168 and a quick ratio of 3.632, with a debt-to-equity ratio of 47.264.

Recent Earnings

Rhythm Pharmaceuticals reported revenue of $217.2 million with a robust growth rate of 83.8%. However, the company posted a net margin of -93.33% and a return on equity of -101.16%, reflecting ongoing losses as it continues to develop its product pipeline. The next earnings report is expected on August 4, 2026.

Insider Buying and Selling at Rhythm Pharmaceuticals, Inc.

On May 18, 2026, CFO Smith Hunter purchased 3,000 shares at an average price of $17.87, while also selling 3,000 shares on the same day. On May 15, 2026, Corporate Controller & CAO Christopher Paul German bought 4,442 shares and sold 4,643 shares at an average price of $92.21. EVP Yann Mazabraud sold 12,875 shares on April 1, 2026.

Analysts Set New Price Targets

On June 16, 2026, Canaccord Genuity maintained its buy rating for Rhythm Pharmaceuticals with a price target of $151. Wells Fargo also maintained a buy rating, setting a target of $155 on June 15, 2026. The consensus among 15 analysts is a strong buy, with an average target price of $138.93.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc. is a biopharmaceutical company based in Boston, Massachusetts. It focuses on developing therapies for rare neuroendocrine diseases. Its lead product, IMCIVREE, targets conditions like POMC and LEPR deficiency obesity. The company is involved in various clinical trials for treating different forms of obesity and related disorders. Founded in 2008, Rhythm is led by CEO Dr. David P. Meeker and employs 414 people.

Bottom Line

Canaccord Genuity's reiterated buy rating on Rhythm Pharmaceuticals underscores continued confidence in the company's potential. With a focus on rare diseases, Rhythm is an intriguing player in the biotech space. As always, remember that analyst ratings are based on past data and do not guarantee future performance.