Rhythm Pharmaceuticals (NASDAQ:RYTM) Coverage Initiated by Analysts at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a research note released on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $78.00 price objective on the stock.

Several other brokerages also recently issued reports on RYTM. Jefferies Financial Group started coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target on the stock. TD Cowen boosted 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. Needham & Company LLC reissued a “buy” rating and set a $64.00 price objective on shares of Rhythm Pharmaceuticals in a report on Thursday, February 27th. Oppenheimer assumed coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They set an “outperform” rating and a $76.00 price objective for the company. Finally, Canaccord Genuity Group boosted their price objective on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.08.

Rhythm Pharmaceuticals Stock Down 0.5 %

Shares of NASDAQ RYTM opened at $52.97 on Wednesday. The firm’s 50-day simple moving average is $56.79 and its 200 day simple moving average is $54.48. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -12.23 and a beta of 2.30. Rhythm Pharmaceuticals has a 12-month low of $35.17 and a 12-month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The company had revenue of $41.83 million for the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. On average, equities analysts expect that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current year.

Insider Activity

In related news, CAO Christopher Paul German sold 635 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of the sale, the chief accounting officer now directly owns 2,070 shares of the company’s stock, valued at approximately $118,445.40. This represents a 23.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jennifer Kayden Lee sold 2,035 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $116,442.70. Following the sale, the executive vice president now directly owns 5,858 shares of the company’s stock, valued at approximately $335,194.76. The trade was a 25.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,787 shares of company stock valued at $1,901,443 in the last ninety days. 5.60% of the stock is owned by insiders.

Institutional Trading of Rhythm Pharmaceuticals

Large investors have recently bought and sold shares of the business. SRS Capital Advisors Inc. increased its stake in Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after purchasing an additional 400 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in Rhythm Pharmaceuticals during the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new position in Rhythm Pharmaceuticals during the 4th quarter worth approximately $37,000. R Squared Ltd acquired a new position in Rhythm Pharmaceuticals during the 4th quarter worth approximately $44,000. Finally, State of Wyoming acquired a new position in Rhythm Pharmaceuticals during the 4th quarter worth approximately $61,000.

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.