By otakuyassine3@gmail.com 
Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Free Report) has earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $66.90.
Several brokerages recently weighed in on RYTM. HC Wainwright reaffirmed a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday. Oppenheimer began coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 price objective for the company. Needham & Company LLC increased their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Bank of America raised their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group increased their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th.
Read Our Latest Report on RYTM
Insider Buying and Selling
In other news, insider Joseph Shulman sold 13,281 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $66.44, for a total transaction of $882,389.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jennifer Kayden Lee sold 66,861 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $66.33, for a total value of $4,434,890.13. Following the completion of the transaction, the executive vice president now owns 972 shares in the company, valued at $64,472.76. This trade represents a 98.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,830 shares of company stock worth $5,622,000 in the last quarter. 5.60% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of RYTM. CWM LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares during the period. ORG Wealth Partners LLC acquired a new position in Rhythm Pharmaceuticals in the 3rd quarter valued at $63,000. Quest Partners LLC raised its position in Rhythm Pharmaceuticals by 513.3% during the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after buying an additional 1,391 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after acquiring an additional 391 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Rhythm Pharmaceuticals by 32.8% in the second quarter. Principal Financial Group Inc. now owns 9,532 shares of the company’s stock valued at $391,000 after acquiring an additional 2,352 shares in the last quarter.
Rhythm Pharmaceuticals Trading Down 0.3 %
Rhythm Pharmaceuticals stock opened at $55.85 on Thursday. The firm has a market capitalization of $3.43 billion, a P/E ratio of -12.90 and a beta of 2.14. Rhythm Pharmaceuticals has a twelve month low of $35.17 and a twelve month high of $68.58. The stock’s fifty day simple moving average is $56.62 and its 200-day simple moving average is $50.36.
Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.07. The company had revenue of $33.20 million for the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. Rhythm Pharmaceuticals’s revenue was up 47.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.76) EPS. Sell-side analysts predict that Rhythm Pharmaceuticals will post -4.34 earnings per share for the current year.
About Rhythm Pharmaceuticals
Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company’s lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.
Further Reading
Receive News & Ratings for Rhythm Pharmaceuticals Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Rhythm Pharmaceuticals and related companies with MarketBeat.com’s FREE daily email newsletter.