Overview
- Rhythm reported first-quarter revenue of $60.1 million, nearly double a year ago and above Wall Street estimates.
- The company posted a loss of $0.83 per share, which came in slightly better than forecasts.
- Shares rose after the earnings release as investors cheered faster sales of Imcivree.
- Analysts at Wells Fargo and RBC inched up price targets, lifting them to $144 and $137 while maintaining positive ratings.
- Imcivree drove growth as Rhythm’s sole FDA-approved therapy, boosted by a new use for hypothalamic obesity and early patient starts.