Rhythm Pharmaceuticals (RYTM) Research Coverage Started at Stifel Nicolaus
Research analysts at Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a research report issued on Friday, The Fly reports. The firm set a “hold” rating on the stock.
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, June 14th. Needham & Company LLC set a $42.00 price target on shares of Rhythm Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 9th. BidaskClub upgraded shares of Rhythm Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 2nd. Finally, Morgan Stanley initiated coverage on shares of Rhythm Pharmaceuticals in a report on Friday, September 7th. They set an “overweight” rating for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $37.40.
RYTM stock opened at $31.40 on Friday. Rhythm Pharmaceuticals has a 52-week low of $16.80 and a 52-week high of $37.23. The stock has a market cap of $1.05 billion and a price-to-earnings ratio of -11.10.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RYTM. Bank of America Corp DE lifted its stake in shares of Rhythm Pharmaceuticals by 110.5% in the second quarter. Bank of America Corp DE now owns 6,251 shares of the company’s stock valued at $195,000 after buying an additional 3,282 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of Rhythm Pharmaceuticals by 642.8% in the second quarter. Cubist Systematic Strategies LLC now owns 8,735 shares of the company’s stock valued at $273,000 after buying an additional 7,559 shares during the period. Highland Capital Management LP bought a new stake in shares of Rhythm Pharmaceuticals in the second quarter valued at about $313,000. Rhumbline Advisers bought a new stake in shares of Rhythm Pharmaceuticals in the second quarter valued at about $357,000. Finally, TD Asset Management Inc. acquired a new position in Rhythm Pharmaceuticals in the second quarter worth about $364,000. Institutional investors and hedge funds own 89.97% of the company’s stock.
About Rhythm Pharmaceuticals
Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of peptide therapeutics for the treatment of rare genetic disorders of obesity in the United States. Its peptide candidates include Setmelanotide, a melanocortin-4 receptor agonist, which is in Phase III clinical trial to treat POMC and leptin receptor deficiency obesity; and Phase II clinical trial for Bardet-Biedl and Alström syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.
Read More: NASDAQ
Receive News & Ratings for Rhythm Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rhythm Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.