Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Given Consensus Rating of “Moderate Buy” by Brokerages

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has earned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $66.90.

Several research analysts recently commented on RYTM shares. Needham & Company LLC increased their price objective on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Bank of America increased their target price on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. JMP Securities restated a “market outperform” rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective for the company. Finally, TD Cowen boosted their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th.

Rhythm Pharmaceuticals Stock Down 0.3 %

RYTM opened at $55.85 on Thursday. The company has a market cap of $3.43 billion, a price-to-earnings ratio of -12.90 and a beta of 2.14. The firm’s fifty day simple moving average is $56.62 and its two-hundred day simple moving average is $50.36. Rhythm Pharmaceuticals has a 52-week low of $35.17 and a 52-week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted 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 company had revenue of $33.20 million for the quarter, compared to analysts’ expectations of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% 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 period in the previous year, the firm posted ($0.76) EPS. On average, research analysts forecast that Rhythm Pharmaceuticals will post -4.34 EPS for the current year.

Insider Activity

In other Rhythm Pharmaceuticals news, EVP Jennifer Kayden Lee sold 66,861 shares of the company’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 transaction, the executive vice president now owns 972 shares of the company’s stock, valued at $64,472.76. This represents a 98.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Pamela J. Cramer sold 4,688 shares of Rhythm Pharmaceuticals stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $65.00, for a total transaction of $304,720.00. Following the sale, the insider now owns 13,500 shares of the company’s stock, 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. In the last 90 days, insiders have sold 84,830 shares of company stock valued at $5,622,000. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its stake in Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in Rhythm Pharmaceuticals during the 3rd quarter worth about $63,000. Quest Partners LLC boosted its holdings in Rhythm Pharmaceuticals by 513.3% during the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after acquiring an additional 1,391 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in 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 valued at $114,000 after acquiring an additional 391 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Rhythm Pharmaceuticals by 32.8% during the second quarter. Principal Financial Group Inc. now owns 9,532 shares of the company’s stock worth $391,000 after purchasing an additional 2,352 shares during the period.

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.