Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives $60.33 Consensus PT from Analysts

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $60.33.

Several research firms have weighed in on RYTM. HC Wainwright reissued a “buy” rating and set a $64.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Rhythm Pharmaceuticals in a report on Wednesday, October 30th. Guggenheim assumed coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a “buy” rating and a $70.00 price objective on the stock. JMP Securities assumed coverage on shares of Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price objective on the stock. Finally, Bank of America upped their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th.

Rhythm Pharmaceuticals Trading Up 6.2 %

NASDAQ:RYTM opened at $56.25 on Wednesday. The company has a market cap of $3.44 billion, a PE ratio of -12.90 and a beta of 2.09. Rhythm Pharmaceuticals has a twelve month low of $23.83 and a twelve month high of $56.58. The company’s 50 day moving average is $49.92 and its two-hundred day moving average is $45.34.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.16. The company had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.79 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. Rhythm Pharmaceuticals’s revenue was up 51.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.82) EPS. As a group, analysts expect that Rhythm Pharmaceuticals will post -4.45 EPS for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In related news, Director Jennifer L. Good sold 31,751 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total value of $1,663,752.40. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $157,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 4,300 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $50.01, for a total transaction of $215,043.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $150,030. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jennifer L. Good sold 31,751 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at $157,200. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,857 shares of company stock worth $5,325,446 in the last three months. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. CWM LLC raised its position in Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after acquiring an additional 253 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after buying an additional 391 shares during the last quarter. American International Group Inc. raised its position in shares of Rhythm Pharmaceuticals by 3.1% in the first quarter. American International Group Inc. now owns 26,318 shares of the company’s stock valued at $1,140,000 after buying an additional 781 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Rhythm Pharmaceuticals in the second quarter valued at about $51,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Rhythm Pharmaceuticals in the third quarter valued at about $63,000.

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.