Rhythm Pharmaceuticals (RYTM)
Markets IMCIVREE and develops MC4R agonists for rare neuroendocrine obesity disorders.
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Markets IMCIVREE, a setmelanotide injection for severe obesity and hyperphagia caused by rare MC4R-pathway and hypothalamic disorders, while developing oral and weekly MC4R agonists. Product revenue comes entirely from IMCIVREE, with commercialization dependent on diagnosis, regulatory approval, reimbursement and outsourced manufacturing.
Develops and commercializes therapies for rare neuroendocrine diseases in which impaired melanocortin-4 receptor signaling drives hyperphagia and severe obesity. IMCIVREE, the injectable form of setmelanotide, is its sole marketed product, with U.S. approvals spanning Bardet-Biedl syndrome, POMC, PCSK1 and LEPR deficiency obesity, and acquired hypothalamic obesity. European and UK authorizations cover several of these indications.
Extends the same MC4R franchise through bivamelagon, an oral agonist, RM-718, a weekly injectable agonist, and additional setmelanotide studies; it also has preclinical small molecules for congenital hyperinsulinism. Commercial execution combines genetic diagnosis support, specialist prescriber education, patient access and reimbursement work across the United States and international markets.
Generates product revenue only from IMCIVREE and reports one aggregated segment. Sales depend on disease identification, regulatory approval, coverage and reimbursement, while all clinical and commercial drug supply is manufactured by third parties.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 17, 2026 | Wolfe Research | Initiate | Rating: — | |
| Aug 28, 2026 | Deutsche Bank | Initiate | Rating: —Target: — | Target: $120 |
| Aug 5, 2026 | Canaccord Genuity | Target | Target: $151 | Target: $154 |
| Aug 5, 2026 | National Bank | Target | Target: — | Target: $160 |
| Jul 7, 2026 | RBC Capital | Reiterate | Rating: —Target: $145 | Target: $141 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $330.9M · Total debt $3.7M · Total assets $437.3M · Shareholders' equity $217.3M
- Revenue
- $71.3M
- Operating income
- −$48.6M
- Net income
- −$49.3M
No dividends on record.
| Institutions | 112.97% | 77.78M shares | |
|---|---|---|---|
| 312 holders · as of Jun 30, 2026 | |||
| Insiders | 0.79% | 543.3K shares | |
| 13 holders · as of Sep 14, 2026 | |||
| Adds to | 113.76% | ||
68.85M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 113.76%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Ra Capital Management, L.P.Institution | 9.68% | 6.67M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 8.94% | 6.16M | as of Jun 30, 2026 |
Baker Bros. Advisors LPInstitution | 8.14% | 5.60M | as of Jun 30, 2026 |
Primecap Management Co/CA/Institution | 4.60% | 3.17M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.56% | 3.14M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 14, 2026 | David P. Meeker | director, officer: President and CEO | −50,000 | $102.67 |
| Aug 31, 2026 | Hunter C. Smith | officer: Chief Financial Officer | −62,774 | $105.46 |
| Aug 13, 2026 | Alastair Garfield | officer: Chief Scientific Officer | −7,763 | $117.57 |
| Aug 13, 2026 | Joseph Shulman | officer: Chief Technical Officer | −5,079 | $119.75 |
| Aug 13, 2026 | Jennifer Kayden Lee | officer: EVP, Head of North America | −75,834 | $117.38 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Rhythm Pharmaceuticals | $100.04 | +1.22% | $6.78B | — | — | 28.3 | +46.9% |
| Eli Lilly | $1,170.50 | +0.48% | $1.10T | 39.1 | 28.6 | 13.8 | +47.7% |
| Novo Nordisk (ADR) | $39.34 | −1.16% | $176.83B | 9.9 | 16.2 | 3.5 | +1.3% |
| Neurocrine Biosciences | $142.57 | −0.96% | $14.48B | 21.1 | 15.6 | 4.3 | +39.5% |
| Amgen | $409.35 | +4.12% | $212.19B | 24.4 | 17.4 | 5.6 | +9.7% |
| Aardvark Therapeutics | $5.68 | +1.97% | $121.9M | — | — | — | — |
| Median | 22.8 | 16.8 | 4.9 | +24.6% |