Rhythm Pharmaceuticals (RYTM) Releases Earnings Results, Misses Estimates By $0.06 EPS
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.
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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