Rhythm Pharmaceuticals: Bull Case Intact, But The Market Is Pricing In A Lot

Rhythm Pharmaceuticals maintains strong commercial momentum, with IMCIVREE sales up 79.5% YoY and a broadening prescriber base in the acquired HO. RYTM's valuation is elevated at 27.4x trailing sales, reflecting high expectations for sustained growth and successful international launches. Takeover speculation, including a reported $124/share AstraZeneca bid, is supporting the share price but inflates the takeover premium over fundamentals.