Rhythm Pharmaceuticals (NASDAQ:RYTM) Now Covered by Analysts at Guggenheim

Guggenheim began coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM - Free Report) in a research note published on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $70.00 target price on the stock.

A number of other equities analysts also recently issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and set a $64.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, October 7th. Bank of America increased their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. JMP Securities started coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an "outperform" rating and a $64.00 price objective for the company. Finally, Needham & Company LLC reiterated a "buy" rating and set a $55.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $60.33.

Rhythm Pharmaceuticals Trading Down 1.0 %

NASDAQ RYTM traded down $0.50 during mid-day trading on Monday, hitting $50.35. The company's stock had a trading volume of 43,503 shares, compared to its average volume of 534,128. The company's 50 day simple moving average is $49.00 and its 200 day simple moving average is $44.51. Rhythm Pharmaceuticals has a twelve month low of $21.34 and a twelve month high of $55.64. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -10.98 and a beta of 2.07.

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 for the quarter, beating the consensus estimate of ($0.71) by $0.16. The business had revenue of $29.08 million for the quarter, compared to analysts' expectations of $28.79 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The firm's revenue for the quarter was up 51.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.82) EPS. As a group, research analysts forecast that Rhythm Pharmaceuticals will post -4.43 EPS for the current year.

Insider Buying and Selling

In other news, Director Jennifer L. Good sold 31,751 shares of Rhythm Pharmaceuticals stock in a transaction dated 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 completion of the sale, the director now owns 3,000 shares in the company, valued at approximately $157,200. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Pamela J. Cramer sold 49,006 shares of the stock in a transaction on Friday, August 9th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer L. Good sold 31,751 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total value of $1,663,752.40. Following the sale, the director now directly owns 3,000 shares of the company's stock, valued at approximately $157,200. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,252 shares of company stock worth $5,393,885 over the last ninety days. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Rhythm Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. CWM LLC boosted its stake in shares of 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 in the last quarter. ORG Partners LLC purchased a new stake in Rhythm Pharmaceuticals during the second quarter valued at about $51,000. ORG Wealth Partners LLC purchased a new position in shares of Rhythm Pharmaceuticals in the third quarter worth about $63,000. Quest Partners LLC lifted its stake 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 valued at $68,000 after acquiring an additional 1,391 shares during the last quarter. Finally, ZRC Wealth Management LLC boosted its holdings in 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 acquiring an additional 1,571 shares during the period.

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.