Rhythm Pharmaceuticals (NASDAQ:RYTM) Releases Earnings Results

Rhythm Pharmaceuticals (NASDAQ:RYTM) issued its earnings results on Wednesday. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03), Zacks reports. The firm had revenue of $41.83 million during the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%.

Rhythm Pharmaceuticals Stock Performance

NASDAQ RYTM traded up $0.90 during trading hours on Thursday, hitting $54.22. 154,072 shares of the company traded hands, compared to its average volume of 488,107. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -12.55 and a beta of 2.14. Rhythm Pharmaceuticals has a twelve month low of $35.17 and a twelve month high of $68.58. The business’s 50-day moving average is $56.98 and its 200-day moving average is $54.21.

Analyst Ratings Changes

Several research firms have recently weighed in on RYTM. HC Wainwright reaffirmed a “buy” rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. TD Cowen upped their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price on the stock. Finally, Oppenheimer assumed coverage on shares of Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target for the company. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.09.

Insider Transactions at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $76,129.83. Following the completion of the transaction, the insider now owns 2,657 shares in the company, valued at approximately $157,905.51. This trade represents a 32.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the completion of the sale, the chief accounting officer now owns 2,070 shares in the company, valued at $118,445.40. This represents a 23.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,787 shares of company stock worth $1,901,443 in the last 90 days. 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.