Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) to Post FY2028 Earnings of $3.88 Per Share, Needham & Company LLC Forecasts

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) – Equities researchers at Needham & Company LLC raised their FY2028 earnings per share estimates for Rhythm Pharmaceuticals in a note issued to investors on Thursday, July 25th. Needham & Company LLC analyst J. Stringer now expects that the company will earn $3.88 per share for the year, up from their previous forecast of $3.76. Needham & Company LLC has a “Buy” rating and a $55.00 price objective on the stock. The consensus estimate for Rhythm Pharmaceuticals’ current full-year earnings is ($4.45) per share.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.34) by ($0.01). The company had revenue of $26.00 million for the quarter, compared to analyst estimates of $26.90 million. Rhythm Pharmaceuticals had a negative return on equity of 179.26% and a negative net margin of 297.91%. The company’s quarterly revenue was up 126.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.92) EPS.

A number of other analysts have also recently weighed in on RYTM. Canaccord Genuity Group decreased their target price on shares of Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Wells Fargo & Company decreased their price objective on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Finally, Bank of America downgraded Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the stock from $49.00 to $42.00 in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.83.

Rhythm Pharmaceuticals Stock Down 2.2 %

NASDAQ:RYTM opened at $47.66 on Monday. The firm has a market capitalization of $2.91 billion, a PE ratio of -10.53 and a beta of 2.04. The stock’s 50-day simple moving average is $42.83 and its 200 day simple moving average is $42.57. Rhythm Pharmaceuticals has a twelve month low of $17.65 and a twelve month high of $53.92.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RYTM. CWM LLC grew 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 valued at $27,000 after buying an additional 253 shares during the last quarter. AJOVista LLC bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $42,000. ORG Partners LLC acquired a new position in Rhythm Pharmaceuticals during the 2nd quarter valued at about $51,000. Nisa Investment Advisors LLC increased its holdings in Rhythm Pharmaceuticals by 91.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company’s stock worth $58,000 after purchasing an additional 600 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth approximately $69,000.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 5,313 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $50.01, for a total transaction of $265,703.13. Following the transaction, the insider now directly owns 30 shares in the company, valued at approximately $1,500.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 5,313 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $50.01, for a total value of $265,703.13. Following the transaction, the insider now owns 30 shares in the company, valued at $1,500.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Pamela J. Cramer sold 1,395 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $49.06, for a total value of $68,438.70. Following the sale, the insider now owns 31,735 shares of the company’s stock, valued at approximately $1,556,919.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,160 shares of company stock valued at $1,042,210. Corporate insiders own 5.60% of the company’s stock.

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.