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

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $68.27.

RYTM has been the topic of a number of research reports. The Goldman Sachs Group raised their target price on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. TD Cowen raised their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. HC Wainwright raised their target price on shares of Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 price target on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd.

Rhythm Pharmaceuticals Trading Down 4.6 %

Shares of Rhythm Pharmaceuticals stock opened at $52.40 on Tuesday. The firm has a market capitalization of $3.22 billion, a PE ratio of -12.10 and a beta of 2.14. Rhythm Pharmaceuticals has a twelve month low of $35.17 and a twelve month high of $68.58. The firm’s 50-day moving average price is $56.91 and its 200 day moving average price is $54.39.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business had revenue of $41.83 million during the quarter, compared to analysts’ expectations of $38.48 million. On average, sell-side analysts predict that Rhythm Pharmaceuticals will post -4.32 EPS for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CEO David P. Meeker sold 4,278 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $254,241.54. Following the completion of the transaction, the chief executive officer now owns 189,927 shares in the company, valued at $11,287,361.61. The trade was a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of the transaction, the chief accounting officer now owns 2,070 shares of the company’s stock, valued at approximately $118,445.40. This trade represents a 23.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,787 shares of company stock worth $1,901,443. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several institutional investors have recently modified their holdings of RYTM. SRS Capital Advisors Inc. grew its stake in shares of Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after acquiring an additional 400 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth $37,000. R Squared Ltd acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth $44,000. Finally, State of Wyoming acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth $61,000.

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.