Rhythm Pharmaceuticals (NASDAQ:RYTM) issued its earnings results on Friday. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.06), MarketWatch Earnings reports.

Rhythm Pharmaceuticals stock traded down $1.99 during mid-day trading on Friday, hitting $29.35. 114,668 shares of the company were exchanged, compared to its average volume of 134,820. Rhythm Pharmaceuticals has a 1-year low of $16.80 and a 1-year high of $37.23. The firm has a market capitalization of $1.03 billion and a P/E ratio of -10.37.

In other Rhythm Pharmaceuticals news, insider Der Ploeg Leonardus H.T. Van sold 38,000 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $30.09, for a total transaction of $1,143,420.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Keith Michael Gottesdiener sold 16,500 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $30.08, for a total value of $496,320.00. The disclosure for this sale can be found here. Insiders have sold 86,300 shares of company stock valued at $2,587,380 over the last quarter. Corporate insiders own 4.93% of the company’s stock.

A hedge fund recently raised its stake in Rhythm Pharmaceuticals stock. Bank of New York Mellon Corp boosted its stake in shares of Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) by 55.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,793 shares of the company’s stock after acquiring an additional 13,462 shares during the quarter. Bank of New York Mellon Corp owned 0.11% of Rhythm Pharmaceuticals worth $1,181,000 as of its most recent SEC filing. 87.08% of the stock is owned by institutional investors and hedge funds.

RYTM has been the subject of a number of recent research reports. BidaskClub upgraded Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. ValuEngine upgraded Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 17th. Needham & Company LLC set a $42.00 target price on Rhythm Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 9th. Morgan Stanley set a $38.00 target price on Rhythm Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, September 7th. Finally, Zacks Investment Research lowered Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $38.60.

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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.

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Earnings History for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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