Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives Average Rating of “Moderate Buy” from Brokerages

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $54.33.

RYTM has been the topic of a number of research analyst reports. Bank of America lowered Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $49.00 to $42.00 in a report on Wednesday. Canaccord Genuity Group dropped their target price on shares of Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday. Needham & Company LLC reduced their target price on shares of Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday. Wells Fargo & Company decreased their price target on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group increased their price objective on Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 25th.

Insider Transactions at Rhythm Pharmaceuticals

In related news, CFO Hunter C. Smith sold 1,209 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $51.38, for a total value of $62,118.42. Following the completion of the sale, the chief financial officer now directly owns 80,413 shares of the company’s stock, valued at approximately $4,131,619.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 1,209 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $51.38, for a total value of $62,118.42. Following the transaction, the chief financial officer now owns 80,413 shares in the company, valued at approximately $4,131,619.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Yann Mazabraud sold 1,594 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $51.38, for a total transaction of $81,899.72. Following the transaction, the executive vice president now owns 7,702 shares in the company, valued at $395,728.76. The disclosure for this sale can be found here. Insiders sold a total of 172,069 shares of company stock valued at $7,626,355 over the last quarter. Company insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Rhythm Pharmaceuticals by 253.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,260 shares of the company’s stock worth $52,000 after purchasing an additional 1,620 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Rhythm Pharmaceuticals by 89.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 40,146 shares of the company’s stock valued at $920,000 after buying an additional 18,963 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Rhythm Pharmaceuticals by 95.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,458 shares of the company’s stock worth $33,000 after acquiring an additional 713 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Rhythm Pharmaceuticals by 4.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,916 shares of the company’s stock valued at $296,000 after acquiring an additional 600 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Rhythm Pharmaceuticals in the third quarter valued at about $460,000.

Rhythm Pharmaceuticals Trading Down 3.2 %

RYTM traded down $1.25 on Wednesday, reaching $38.10. The company had a trading volume of 792,212 shares, compared to its average volume of 636,113. The company has a fifty day moving average of $40.79 and a 200-day moving average of $39.86. The company has a market capitalization of $2.32 billion, a P/E ratio of -11.98 and a beta of 1.94. Rhythm Pharmaceuticals has a one year low of $15.50 and a one year high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, May 7th. The company reported ($2.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.34) by ($0.01). Rhythm Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 238.50%. The firm had revenue of $26.00 million during the quarter, compared to analyst estimates of $26.90 million. During the same quarter last year, the company earned ($0.92) earnings per share. The business’s revenue for the quarter was up 126.1% on a year-over-year basis. Research analysts predict that Rhythm Pharmaceuticals will post -4.02 EPS for the current year.

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.