Company expects 2026 non-GAAP operating expenses of $363 million to $397 million.
Rhythm anticipates IMCIVREE launch in Japan for acquired HO pending a regulatory decision by year-end 2026.
Company expects country-level IMCIVREE launches for acquired HO in Europe beginning in 2027.
Result drivers
U.S. launch demand - Sequential U.S. revenue growth was driven by increased patient demand for IMCIVREE in acquired hypothalamic obesity and continued growth in Bardet-Biedl syndrome.
Patient start forms - More than 400 patient start forms for IMCIVREE in acquired hypothalamic obesity were received since FDA approval as of June 30, 2026.
Ex-U.S. revenue impact - Ex-U.S. revenue declined sequentially due to a $3.8 million retrospective charge in France, though reimbursed patient numbers continued to increase.
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the pharmaceuticals peer group is "buy".
Wall Street's median 12-month price target for Rhythm Pharmaceuticals Inc is $139.50, about 35.7% above its August 3 closing price of $102.78.
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