Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Given Consensus Rating of “Moderate Buy” by Analysts

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has earned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $141.1176.

Several equities research analysts recently weighed in on RYTM shares. Wells Fargo & Company raised their price target on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. National Bank Financial set a $160.00 target price on Rhythm Pharmaceuticals in a research note on Wednesday, August 5th. Citizens Jmp lifted their target price on Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Finally, Canaccord Genuity Group set a $154.00 price objective on Rhythm Pharmaceuticals in a research report on Wednesday, August 5th.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $104.71 on Friday. Rhythm Pharmaceuticals has a 1 year low of $74.50 and a 1 year high of $122.20. The firm’s 50-day moving average is $108.65 and its 200 day moving average is $97.17. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of -33.67 and a beta of 1.97.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.08. The business had revenue of $71.25 million during the quarter, compared to analyst estimates of $67.66 million. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. Rhythm Pharmaceuticals’s revenue was up 46.9% compared to the same quarter last year. During the same period last year, the business earned ($0.75) EPS. On average, equities analysts expect that Rhythm Pharmaceuticals will post -2.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Alastair Garfield sold 7,763 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $117.57, for a total transaction of $912,695.91. Following the transaction, the insider owned 2,295 shares in the company, valued at approximately $269,823.15. This represents a 77.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lynn Tetrault sold 37,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the sale, the director directly owned 7,000 shares in the company, valued at approximately $702,240. The trade was a 84.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 245,450 shares of company stock worth $27,374,837 in the last quarter. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its stake in Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 145 shares during the period. GAMMA Investing LLC increased its position in Rhythm Pharmaceuticals by 36.3% during the second quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock valued at $40,000 after acquiring an additional 97 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Rhythm Pharmaceuticals by 39.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after acquiring an additional 113 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in Rhythm Pharmaceuticals in the second quarter worth about $51,000.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare genetic diseases of obesity and related metabolic disorders. The company’s research is centered on the melanocortin-4 receptor (MC4R) pathway, which plays an important role in regulating hunger and energy balance.

Rhythm’s primary product is IMCIVREE (setmelanotide), an MC4R agonist. In the United States, IMCIVREE is approved for chronic weight management in adults and children at least 2 years old with obesity and certain genetically confirmed conditions affecting the MC4R pathway, including pro-opiomelanocortin, proprotein convertase subtilisin/kexin type 1 and leptin receptor deficiencies, as well as Bardet-Biedl syndrome.