Westfield Capital Management Co. LP Boosts Stock Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Westfield Capital Management Co. LP grew its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 18.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,267,158 shares of the company’s stock after acquiring an additional 198,154 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Rhythm Pharmaceuticals were worth $135,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. M&T Bank Corp bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth $9,202,000. Penserra Capital Management LLC bought a new stake in shares of Rhythm Pharmaceuticals during the 3rd quarter worth $3,073,000. Hillsdale Investment Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals during the 3rd quarter worth $4,302,000. Jennison Associates LLC raised its stake in shares of Rhythm Pharmaceuticals by 123.2% during the 4th quarter. Jennison Associates LLC now owns 918,567 shares of the company’s stock worth $98,323,000 after purchasing an additional 507,017 shares during the period. Finally, Capital Research Global Investors bought a new stake in shares of Rhythm Pharmaceuticals during the 3rd quarter worth $60,417,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Rhythm Pharmaceuticals from $143.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Bank of America lowered their target price on Rhythm Pharmaceuticals from $145.00 to $139.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Zacks Research upgraded Rhythm Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada lifted their target price on Rhythm Pharmaceuticals from $136.00 to $137.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, Canaccord Genuity Group lifted their target price on Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.81.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock opened at $87.61 on Friday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $60.70 and a 52-week high of $122.20. The stock’s 50-day simple moving average is $87.41 and its 200 day simple moving average is $96.90. The stock has a market capitalization of $6.00 billion, a P/E ratio of -27.99 and a beta of 1.91.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The business had revenue of $60.11 million for the quarter, compared to analysts’ expectations of $55.78 million. During the same period in the previous year, the business posted ($0.81) EPS. The firm’s quarterly revenue was up 83.8% compared to the same quarter last year. Equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -3.18 EPS for the current fiscal year.

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.