Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM) is a biopharmaceutical company that focuses on developing treatments for rare neuroendocrine diseases. On July 10, 2025, Guggenheim upgraded RYTM's stock grade to "Buy," with the stock priced at approximately $89.92. Guggenheim also raised the price target from $94 to $119, signaling a positive outlook for the company's future.
The upgrade comes as Rhythm Pharmaceuticals announces the pricing of its upsized public offering. The company is offering 2.06 million shares of its common stock at $85.00 per share. This offering is expected to generate approximately $175 million in gross proceeds, before accounting for underwriting discounts, commissions, and other expenses. The transaction is anticipated to close around July 11, 2025.
The stock for RYTM is currently priced at $89.92, reflecting an increase of approximately 1.03% or $0.92. Today, the stock has fluctuated between a low of $88.99 and a high of $94.50. Over the past year, RYTM has reached a high of $94.80 and a low of $40.61. The company's market capitalization stands at approximately $5.72 billion.
Additionally, Rhythm has provided underwriters with a 30-day option to purchase up to an additional 308,823 shares at the same price, excluding underwriting discounts and commissions. The trading volume for RYTM is 864,895 shares on the NASDAQ exchange, indicating active investor interest.
