Rhythm Pharmaceuticals Inc. (RYTM) experienced a sharp decline, with its stock price plummeting 5.30% during Friday's intraday session.

The sell-off coincided with several Wall Street analysts revising their price targets downward for the biopharmaceutical company. Needham cut its target to $139 from $148, RBC lowered its target to $140 from $145, and Wells Fargo reduced its target to $136 from $145.

While some firms maintained positive ratings on the stock, including Guggenheim (Buy) and Citizens JMP (Market Outperform), the collective downward adjustments in valuation benchmarks contributed to negative investor sentiment and the session's price drop.