Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $55.83.

Separately, Needham & Company LLC restated a "buy" rating and set a $55.00 price target on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 7th.

Insider Activity

In related news, insider Joseph Shulman sold 5,313 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $50.01, for a total value of $265,703.13. Following the completion of the transaction, the insider now owns 30 shares of the company's stock, valued at $1,500.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 1,395 shares of Rhythm Pharmaceuticals stock in a transaction on Monday, July 29th. The stock was sold at an average price of $49.06, for a total transaction of $68,438.70. Following the completion of the transaction, the insider now directly owns 31,735 shares of the company's stock, valued at $1,556,919.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Shulman sold 5,313 shares of the business's stock in a transaction on Friday, July 12th. The shares were sold at an average price of $50.01, for a total transaction of $265,703.13. Following the completion of the sale, the insider now owns 30 shares in the company, valued at approximately $1,500.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,682 shares of company stock worth $3,476,642. Corporate insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC increased its holdings in shares of Rhythm Pharmaceuticals by 465.6% during the fourth quarter. Perceptive Advisors LLC now owns 2,154,110 shares of the company's stock worth $99,024,000 after buying an additional 1,773,282 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Rhythm Pharmaceuticals by 381.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 730,643 shares of the company's stock valued at $31,659,000 after purchasing an additional 578,800 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in Rhythm Pharmaceuticals by 38.2% in the second quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company's stock worth $48,548,000 after purchasing an additional 326,865 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Rhythm Pharmaceuticals by 116.1% during the first quarter. Canada Pension Plan Investment Board now owns 577,000 shares of the company's stock worth $25,001,000 after purchasing an additional 310,000 shares during the last quarter. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at $12,477,000.

Rhythm Pharmaceuticals Stock Down 3.1 %

RYTM stock traded down $1.57 during mid-day trading on Tuesday, reaching $49.09. 438,263 shares of the stock traded hands, compared to its average volume of 555,861. The firm has a market capitalization of $3.00 billion, a PE ratio of -10.68 and a beta of 2.07. The business has a 50-day moving average of $46.83 and a two-hundred day moving average of $42.70. Rhythm Pharmaceuticals has a 52 week low of $20.97 and a 52 week high of $53.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its earnings results 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 firm had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.79 million. During the same quarter last year, the firm posted ($0.82) EPS. The company's revenue was up 51.3% on a year-over-year basis. On average, equities research analysts anticipate that Rhythm Pharmaceuticals will post -4.44 EPS 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.