By otakuyassine3@gmail.com 
Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Free Report) has earned an average rating of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $68.09.
A number of analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $69.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Needham & Company LLC boosted their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer started coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They set an “outperform” rating and a $76.00 target price for the company. JMP Securities restated a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Finally, Bank of America increased their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 14th.
View Our Latest Report on RYTM
Insider Activity
In related news, EVP Jennifer Kayden Lee sold 66,861 shares of the firm’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 sale, the executive vice president now directly owns 972 shares in the company, valued at approximately $64,472.76. This trade represents a 98.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Pamela J. Cramer sold 4,688 shares of Rhythm Pharmaceuticals stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $65.00, for a total value of $304,720.00. Following the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $877,500. The trade was a 25.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,830 shares of company stock valued at $5,622,000. 5.60% of the stock is owned by insiders.
Institutional Investors Weigh In On Rhythm Pharmaceuticals
Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased 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 purchasing an additional 2,352 shares during the last quarter. Rhumbline Advisers grew its stake in Rhythm Pharmaceuticals by 8.3% in the 2nd quarter. Rhumbline Advisers now owns 83,063 shares of the company’s stock valued at $3,411,000 after buying an additional 6,339 shares during the last quarter. TD Asset Management Inc raised its holdings in Rhythm Pharmaceuticals by 12.3% in the 2nd quarter. TD Asset Management Inc now owns 31,000 shares of the company’s stock valued at $1,273,000 after acquiring an additional 3,400 shares during the period. Quest Partners LLC lifted its position in Rhythm Pharmaceuticals by 513.3% during the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after acquiring an additional 1,391 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Rhythm Pharmaceuticals by 440.8% during the second quarter. Marshall Wace LLP now owns 106,809 shares of the company’s stock worth $4,386,000 after acquiring an additional 87,059 shares during the period.
Rhythm Pharmaceuticals Stock Down 0.2 %
Shares of NASDAQ RYTM opened at $54.54 on Monday. Rhythm Pharmaceuticals has a twelve month low of $35.17 and a twelve month high of $68.58. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of -12.60 and a beta of 2.16. The company’s fifty day moving average is $58.00 and its 200-day moving average is $52.11.
Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last posted its 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. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. During the same period in the previous year, the company posted ($0.76) earnings per share. The company’s revenue for the quarter was up 47.6% on a year-over-year basis. On average, research analysts anticipate that Rhythm Pharmaceuticals will post -4.34 EPS for the current fiscal year.
Rhythm Pharmaceuticals Company Profile
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.
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