Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells $882,389.64 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 13,281 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $66.44, for a total value of $882,389.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM opened at $56.23 on Friday. The company’s 50-day moving average price is $52.37 and its two-hundred day moving average price is $46.56. Rhythm Pharmaceuticals, Inc. has a one year low of $30.90 and a one year high of $68.58. The stock has a market capitalization of $3.46 billion, a PE ratio of -12.99 and a beta of 2.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.07. The business had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. Rhythm Pharmaceuticals’s revenue was up 47.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.76) earnings per share. On average, analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several large investors have recently made changes to their positions in RYTM. Castleark Management LLC raised its position in Rhythm Pharmaceuticals by 1.3% during the third quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock worth $1,009,000 after acquiring an additional 250 shares in the last quarter. CWM LLC lifted its stake in Rhythm Pharmaceuticals by 62.6% in the 2nd 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. Mirae Asset Global Investments Co. Ltd. grew its holdings in Rhythm Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after purchasing an additional 391 shares during the period. American International Group Inc. increased its position in Rhythm Pharmaceuticals by 3.1% during the first quarter. American International Group Inc. now owns 26,318 shares of the company’s stock worth $1,140,000 after buying an additional 781 shares during the last quarter. Finally, ORG Partners LLC bought a new stake in Rhythm Pharmaceuticals in the second quarter valued at approximately $51,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RYTM shares. TD Cowen lifted their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. HC Wainwright lifted their price target on shares of Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Guggenheim assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective for the company. Bank of America boosted their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Needham & Company LLC lifted their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.30.

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.