Rhythm Pharmaceuticals (RYTM) to Release Quarterly Earnings on Wednesday

Rhythm Pharmaceuticals (NASDAQ:RYTM) is expected to announce its earnings results before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.71) per share and revenue of $38.48 million for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock opened at $56.07 on Monday. The stock’s 50 day simple moving average is $57.12 and its two-hundred day simple moving average is $54.12. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -12.95 and a beta of 2.14. Rhythm Pharmaceuticals has a fifty-two week low of $35.17 and a fifty-two week high of $68.58.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RYTM shares. The Goldman Sachs Group lifted their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. TD Cowen boosted their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Oppenheimer assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 target price for the company. JMP Securities reiterated a “market outperform” rating and set a $75.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.09.

Insider Buying and Selling

In related news, CFO Hunter C. Smith sold 2,215 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $126,742.30. Following the sale, the chief financial officer now directly owns 109,929 shares in the company, valued at approximately $6,290,137.38. The trade was a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David P. Meeker sold 4,278 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $254,241.54. Following the transaction, the chief executive officer now owns 189,927 shares of the company’s stock, valued at $11,287,361.61. This represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,787 shares of company stock valued at $1,901,443. Corporate insiders own 5.60% of the company’s stock.

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.