Brokerages Set Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) PT at $60.33

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) has been given an average rating of "Moderate Buy" by the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $60.33.

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $55.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday. JMP Securities started coverage on shares of Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an "outperform" rating and a $64.00 target price for the company. Guggenheim assumed coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They set a "buy" rating and a $70.00 price target on the stock. Bank of America lifted their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. Finally, HC Wainwright restated a "buy" rating and set a $64.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, October 25th.

Rhythm Pharmaceuticals Price Performance

RYTM stock remained flat at $49.54 during trading on Wednesday. 95,809 shares of the company's stock were exchanged, compared to its average volume of 528,048. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -10.70 and a beta of 2.07. The stock has a 50-day simple moving average of $49.48 and a 200 day simple moving average of $44.90. Rhythm Pharmaceuticals has a one year low of $22.41 and a one year high of $55.64.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, beating analysts' consensus estimates of ($0.71) by $0.16. The firm had revenue of $29.08 million for the quarter, compared to analysts' expectations of $28.79 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The firm's quarterly revenue was up 51.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.82) earnings per share. Sell-side analysts expect that Rhythm Pharmaceuticals will post -4.45 EPS for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In related news, Director Lynn A. Tetrault sold 4,300 shares of Rhythm Pharmaceuticals 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 sale, the director now directly owns 3,000 shares in the company, valued at $150,030. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lynn A. Tetrault sold 4,300 shares of the stock in a transaction dated 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 sale, the director now 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 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 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 transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,857 shares of company stock valued at $5,325,446. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC raised its position in shares of Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company's stock worth $27,000 after buying an additional 253 shares during the period. ORG Partners LLC acquired a new position in Rhythm Pharmaceuticals during the 2nd quarter worth $51,000. ORG Wealth Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter worth approximately $63,000. Quest Partners LLC lifted its position in shares of Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company's stock worth $68,000 after buying an additional 1,391 shares during the last quarter. Finally, ZRC Wealth Management LLC grew 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 buying 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.