HC Wainwright Boosts Rhythm Pharmaceuticals (NASDAQ:RYTM) Price Target to $70.00

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its target price upped by HC Wainwright from $69.00 to $70.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Rhythm Pharmaceuticals’ FY2026 earnings at ($1.49) EPS.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group boosted their price target on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. The Goldman Sachs Group boosted their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and set a $64.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday, February 27th. Finally, TD Cowen upped 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. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.08.

Rhythm Pharmaceuticals Price Performance

RYTM stock opened at $52.97 on Monday. Rhythm Pharmaceuticals has a 1-year low of $35.17 and a 1-year high of $68.58. The firm has a fifty day moving average price of $56.79 and a two-hundred day moving average price of $54.48. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of -12.23 and a beta of 2.30.

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

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, CEO David P. Meeker sold 9,896 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 transaction of $566,249.12. Following the sale, the chief executive officer now owns 201,281 shares in the company, valued at approximately $11,517,298.82. The trade was a 4.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Shulman sold 1,281 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $76,129.83. Following the completion of the transaction, the insider now owns 2,657 shares in the company, valued at $157,905.51. This represents a 32.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,787 shares of company stock worth $1,901,443. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of large investors have recently made changes to their positions in the business. Frazier Life Sciences Management L.P. increased its holdings in shares of Rhythm Pharmaceuticals by 1.9% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock valued at $126,624,000 after purchasing an additional 45,648 shares during the period. Geode Capital Management LLC increased its holdings in Rhythm Pharmaceuticals by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock worth $65,824,000 after buying an additional 3,499 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Rhythm Pharmaceuticals by 103.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock worth $68,309,000 after buying an additional 621,432 shares during the last quarter. Alkeon Capital Management LLC increased its holdings in Rhythm Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock worth $61,176,000 after buying an additional 167,700 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Rhythm Pharmaceuticals by 14.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock worth $58,208,000 after buying an additional 143,800 shares during 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.