Rhythm Pharmaceuticals (NASDAQ:RYTM) Given New $69.00 Price Target at HC Wainwright

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price objective upped by HC Wainwright from $64.00 to $69.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently issued reports on RYTM. JMP Securities initiated coverage on Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price objective for the company. Needham & Company LLC upped their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen increased their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America increased their price objective 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, Canaccord Genuity Group increased their price objective on Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $62.30.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock traded up $1.32 during trading hours on Thursday, hitting $65.22. 391,136 shares of the company were exchanged, compared to its average volume of 540,521. Rhythm Pharmaceuticals has a 1 year low of $26.55 and a 1 year high of $65.71. The business has a 50-day moving average of $50.61 and a 200-day moving average of $45.59.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.07. The firm had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 286.94% and a negative net margin of 230.07%. Rhythm Pharmaceuticals’s revenue was up 47.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.76) earnings per share. Equities analysts predict that Rhythm Pharmaceuticals will post -4.45 earnings per share for the current year.

Insider Transactions at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 3,200 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $50.01, for a total value of $160,032.00. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at $675,135. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Pamela J. Cramer sold 3,200 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $50.01, for a total value of $160,032.00. Following the completion of the transaction, the insider now owns 13,500 shares in the company, valued at approximately $675,135. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer L. Good sold 31,751 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total value of $1,663,752.40. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $157,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,851 shares of company stock worth $3,112,825 in the last three months. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of Rhythm Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its stake in Rhythm Pharmaceuticals by 62.6% during the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after acquiring an additional 253 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Rhythm Pharmaceuticals in the 2nd quarter worth $51,000. ORG Wealth Partners LLC bought a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter worth $63,000. Quest Partners LLC raised its stake in shares of Rhythm Pharmaceuticals by 513.3% in 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised 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 buying an additional 391 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.