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

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have been given a consensus rating of “Moderate Buy” by the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $69.46.

A number of brokerages have weighed in on RYTM. Morgan Stanley reissued an “overweight” rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Canaccord Genuity Group increased their target price on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Oppenheimer began coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target for the company. JMP Securities reiterated a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, March 24th.

Rhythm Pharmaceuticals Trading Up 2.4 %

Shares of RYTM stock opened at $54.80 on Friday. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -12.66 and a beta of 2.30. The firm has a 50-day moving average price of $55.25 and a 200 day moving average price of $55.03. Rhythm Pharmaceuticals has a twelve month low of $35.17 and a twelve month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data 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). The firm had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. As a group, research analysts predict that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Yann Mazabraud sold 75,000 shares of Rhythm Pharmaceuticals stock in a transaction on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the sale, the executive vice president now owns 40,370 shares of the company’s stock, valued at $2,078,247.60. The trade was a 65.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 in the company, valued at $118,445.40. This represents a 23.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,131 shares of company stock worth $5,781,098 over the last quarter. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its holdings in Rhythm Pharmaceuticals by 79.7% in the third quarter. FMR LLC now owns 50,295 shares of the company’s stock valued at $2,635,000 after purchasing an additional 22,306 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Rhythm Pharmaceuticals by 307.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock valued at $756,000 after purchasing an additional 10,882 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 241.9% during the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock valued at $1,707,000 after buying an additional 23,054 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the third quarter worth approximately $649,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Rhythm Pharmaceuticals by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 433,866 shares of the company’s stock worth $22,730,000 after buying an additional 5,908 shares during the last quarter.

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.