Equities Analysts Issue Forecasts for Rhythm Pharmaceuticals, Inc.'s Q3 2024 Earnings (NASDAQ:RYTM)

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) - Equities research analysts at HC Wainwright issued their Q3 2024 EPS estimates for Rhythm Pharmaceuticals in a research note issued on Wednesday, September 18th. HC Wainwright analyst R. Selvaraju expects that the company will post earnings per share of ($0.73) for the quarter. HC Wainwright currently has a "Buy" rating and a $64.00 price objective on the stock. The consensus estimate for Rhythm Pharmaceuticals' current full-year earnings is ($4.44) per share. HC Wainwright also issued estimates for Rhythm Pharmaceuticals' Q4 2024 earnings at ($0.72) EPS, FY2024 earnings at ($4.33) EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.59) EPS, Q3 2025 earnings at ($0.55) EPS, Q4 2025 earnings at ($0.51) EPS and FY2025 earnings at ($2.26) EPS.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a "buy" rating and issued a $55.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 7th. JMP Securities initiated coverage on Rhythm Pharmaceuticals in a research report on Tuesday. They issued an "outperform" rating and a $64.00 target price for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.88.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM traded down $1.75 during mid-day trading on Friday, reaching $52.80. 629,103 shares of the company's stock were exchanged, compared to its average volume of 563,217. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -11.78 and a beta of 2.07. The firm has a 50-day moving average price of $48.08 and a two-hundred day moving average price of $43.08. Rhythm Pharmaceuticals has a 52 week low of $20.97 and a 52 week high of $55.64.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.16. The business had revenue of $29.08 million during the quarter, compared to the consensus estimate of $28.79 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. Rhythm Pharmaceuticals's revenue was up 51.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.82) earnings per share.

Insiders Place Their Bets

In other news, insider Pamela J. Cramer sold 49,006 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 13,500 shares in the company, valued at $609,525. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Pamela J. Cramer sold 49,006 shares of the company's 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 transaction, the insider now owns 13,500 shares of the company's stock, valued at $609,525. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Pamela J. Cramer sold 1,395 shares of Rhythm Pharmaceuticals stock in a transaction on Monday, July 29th. The shares were sold at an average price of $49.06, for a total value of $68,438.70. Following the sale, the insider now directly owns 31,735 shares of the company's stock, valued at approximately $1,556,919.10. The disclosure for this sale can be found here. Insiders sold a total of 127,033 shares of company stock worth $6,214,392 in the last quarter. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RYTM. CWM LLC grew its position in Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company's stock worth $27,000 after acquiring an additional 253 shares in the last quarter. ORG Partners LLC bought a new stake in Rhythm Pharmaceuticals during the second quarter worth about $51,000. Quest Partners LLC lifted its stake in Rhythm Pharmaceuticals by 513.3% during the second quarter. Quest Partners LLC now owns 1,662 shares of the company's stock worth $68,000 after purchasing an additional 1,391 shares during the last quarter. Quarry LP purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth about $69,000. Finally, ZRC Wealth Management LLC increased its position in shares of Rhythm Pharmaceuticals by 392.8% during the 1st quarter. ZRC Wealth Management LLC now owns 1,971 shares of the company's stock valued at $85,000 after purchasing an additional 1,571 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.