Rhythm Pharmaceuticals (RYTM) Surges 17.1%: Is This an Indication of Further Gains?

Rhythm Pharmaceuticals, Inc. (RYTM) shares ended the last trading session 17.1% higher at $54.96. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.6% loss over the past four weeks.The stock price rally was observed after RYTM announced meeting the primary goal in a late-stage study of setmelanotide for treating acquired hypothalamic obesity. Per the data readout, the phase III TRANSCEND study met its primary endpo ...