Rhythm Pharmaceuticals (NASDAQ:RYTM) Price Target Raised to $65.00 at TD Cowen

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price target increased by investment analysts at TD Cowen from $55.00 to $65.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 2.72% from the stock’s current price.

RYTM has been the topic of several other reports. JMP Securities initiated coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price target on the stock. Needham & Company LLC increased their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America lifted their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Guggenheim assumed coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 price target for the company. Finally, Canaccord Genuity Group lifted their price target on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $61.80.

Rhythm Pharmaceuticals Stock Up 12.5 %

Shares of NASDAQ:RYTM traded up $7.03 on Wednesday, reaching $63.28. The company had a trading volume of 1,493,559 shares, compared to its average volume of 532,946. Rhythm Pharmaceuticals has a twelve month low of $23.83 and a twelve month high of $64.52. The stock has a 50-day moving average price of $49.92 and a 200 day moving average price of $45.34. The stock has a market capitalization of $3.87 billion, a P/E ratio of -14.45 and a beta of 2.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data 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 221.65% and a negative net margin of 254.88%. The business had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same quarter in the previous year, the firm earned ($0.76) EPS. The firm’s revenue was up 47.6% compared to the same quarter last year. On average, sell-side analysts predict that Rhythm Pharmaceuticals will post -4.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 49,006 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $45.15, for a total value of $2,212,620.90. Following the completion of the sale, the insider now owns 13,500 shares of the company’s stock, valued at approximately $609,525. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 17,501 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $49.65, for a total value of $868,924.65. Following the completion of the sale, the director now owns 3,000 shares of the company’s stock, valued at approximately $148,950. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pamela J. Cramer sold 49,006 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $45.15, for a total transaction of $2,212,620.90. Following the completion of the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at $609,525. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,857 shares of company stock valued at $5,325,446. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several large investors have recently made changes to their positions in RYTM. Capstone Investment Advisors LLC bought a new stake in shares of Rhythm Pharmaceuticals during the first quarter worth $292,000. Swiss National Bank increased its position in shares of Rhythm Pharmaceuticals by 4.0% during the first quarter. Swiss National Bank now owns 93,300 shares of the company’s stock worth $4,043,000 after acquiring an additional 3,600 shares in the last quarter. Sei Investments Co. increased its position in shares of Rhythm Pharmaceuticals by 85.8% during the first quarter. Sei Investments Co. now owns 11,470 shares of the company’s stock worth $497,000 after acquiring an additional 5,296 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Rhythm Pharmaceuticals by 12.4% during the first quarter. ProShare Advisors LLC now owns 13,808 shares of the company’s stock worth $598,000 after acquiring an additional 1,527 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Rhythm Pharmaceuticals by 2.4% during the first quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company’s stock worth $143,169,000 after acquiring an additional 77,208 shares in the last quarter.

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.