Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $64.67.

RYTM has been the topic of several analyst reports. TD Cowen increased their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Needham & Company LLC raised their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. JMP Securities assumed coverage on shares of Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, HC Wainwright restated a “buy” rating and issued a $69.00 price target on shares of Rhythm Pharmaceuticals in a research note on Wednesday, December 4th.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM opened at $53.69 on Thursday. The stock has a 50-day moving average of $56.00 and a two-hundred day moving average of $49.79. The stock has a market cap of $3.30 billion, a P/E ratio of -12.40 and a beta of 2.14. Rhythm Pharmaceuticals has a one year low of $35.17 and a one year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. The company had revenue of $33.20 million during the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Rhythm Pharmaceuticals’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.76) EPS. Analysts predict that Rhythm Pharmaceuticals will post -4.34 EPS for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Jennifer Kayden Lee sold 66,861 shares of the 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 owns 972 shares in the company, valued at approximately $64,472.76. This represents a 98.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pamela J. Cramer sold 4,688 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $877,500. This represents a 25.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,830 shares of company stock valued at $5,622,000 over the last ninety days. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of hedge funds have recently modified their holdings of RYTM. CWM LLC grew its stake in shares of Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after buying an additional 253 shares during the period. ORG Wealth Partners LLC purchased a new stake in Rhythm Pharmaceuticals in the third quarter valued at $63,000. Quest Partners LLC grew its holdings in shares of 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 purchasing an additional 1,391 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rhythm Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after purchasing an additional 391 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Rhythm Pharmaceuticals by 32.8% in the 2nd quarter. Principal Financial Group Inc. now owns 9,532 shares of the company’s stock valued at $391,000 after buying an additional 2,352 shares during the period.

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.