Rhythm Pharmaceuticals (NASDAQ:RYTM) Price Target Raised to $144.00

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price target boosted by Wells Fargo & Company from $143.00 to $144.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts also recently weighed in on RYTM. HC Wainwright dropped their target price on shares of Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 21st. Telsey Advisory Group set a $143.00 target price on shares of Rhythm Pharmaceuticals in a research report on Thursday, March 12th. Canaccord Genuity Group lowered their price objective on shares of Rhythm Pharmaceuticals from $141.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Finally, Wall Street Zen downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.81.

Rhythm Pharmaceuticals Stock Performance

RYTM opened at $94.17 on Wednesday. The company has a 50-day moving average of $87.93 and a 200-day moving average of $99.24. The company has a market capitalization of $6.45 billion, a P/E ratio of -30.09 and a beta of 1.94. Rhythm Pharmaceuticals has a 1-year low of $55.31 and a 1-year high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.03. The company had revenue of $60.11 million during the quarter, compared to the consensus estimate of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The company’s revenue was up 83.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.81) EPS. As a group, sell-side analysts expect that Rhythm Pharmaceuticals will post -3.04 earnings per share for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In related news, CAO Christopher Paul German sold 5,614 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $89.56, for a total transaction of $502,789.84. Following the completion of the sale, the chief accounting officer owned 160 shares of the company’s stock, valued at $14,329.60. This represents a 97.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Hunter C. Smith sold 4,385 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $101.26, for a total transaction of $444,025.10. Following the sale, the chief financial officer directly owned 110,512 shares of the company’s stock, valued at approximately $11,190,445.12. This represents a 3.82% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 20,639 shares of company stock valued at $2,017,217. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Xponance LLC boosted its stake in Rhythm Pharmaceuticals by 2.6% during the 4th quarter. Xponance LLC now owns 4,269 shares of the company’s stock valued at $457,000 after purchasing an additional 107 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Rhythm Pharmaceuticals by 4.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,568 shares of the company’s stock valued at $259,000 after purchasing an additional 110 shares during the period. Smartleaf Asset Management LLC boosted its stake in Rhythm Pharmaceuticals by 39.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after purchasing an additional 113 shares during the period. Captrust Financial Advisors boosted its stake in Rhythm Pharmaceuticals by 0.7% during the 2nd quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock valued at $1,104,000 after purchasing an additional 114 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Rhythm Pharmaceuticals by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after purchasing an additional 118 shares during the period.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.