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

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $57.88.

A number of analysts have recently issued reports on RYTM shares. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $64.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, October 7th. Finally, JMP Securities assumed coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price target on the stock.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 49,006 shares of Rhythm Pharmaceuticals stock in a transaction on Friday, August 9th. The shares were sold at an average price of $45.15, for a total value of $2,212,620.90. Following the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $609,525. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Pamela J. Cramer sold 49,006 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $45.15, for a total transaction of $2,212,620.90. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $609,525. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jennifer L. Good sold 31,751 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total value of $1,663,752.40. Following the completion of the sale, the director now directly owns 3,000 shares in the company, valued at approximately $157,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,720 shares of company stock worth $5,948,689. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Large investors have recently bought and sold shares of the business. CWM LLC lifted its position in Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after purchasing an additional 253 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the 2nd quarter valued at about $51,000. ORG Wealth Partners LLC bought a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at about $63,000. Quest Partners LLC grew its position in Rhythm Pharmaceuticals by 513.3% in the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after acquiring an additional 1,391 shares in the last quarter. Finally, Quarry LP purchased a new position in Rhythm Pharmaceuticals in the fourth quarter worth about $69,000.

Rhythm Pharmaceuticals Stock Up 3.9 %

Shares of RYTM opened at $49.82 on Friday. The business has a 50-day simple moving average of $48.36 and a two-hundred day simple moving average of $44.15. Rhythm Pharmaceuticals has a 52 week low of $21.34 and a 52 week high of $55.64. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -11.43 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The company had revenue of $29.08 million during the quarter, compared to the consensus estimate of $28.79 million. During the same period in the previous year, the company posted ($0.82) EPS. The firm’s revenue was up 51.3% on a year-over-year basis. On average, equities analysts anticipate that Rhythm Pharmaceuticals will post -4.44 earnings per share for the current fiscal year.

About Rhythm Pharmaceuticals

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.