HC Wainwright Reiterates "Buy" Rating for Rhythm Pharmaceuticals (NASDAQ:RYTM)

HC Wainwright restated their buy rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM - Free Report) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $64.00 price target on the stock.

Several other brokerages have also weighed in on RYTM. JMP Securities began coverage on shares of Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an "outperform" rating and a $64.00 price objective on the stock. Bank of America raised their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Guggenheim started coverage on Rhythm Pharmaceuticals in a report on Monday. They issued a "buy" rating and a $70.00 price objective for the company. Finally, Needham & Company LLC restated a "buy" rating and set a $55.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Rhythm Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $60.33.

Rhythm Pharmaceuticals Trading Down 2.3 %

Shares of Rhythm Pharmaceuticals stock traded down $1.16 during midday trading on Friday, reaching $48.55. The company had a trading volume of 455,250 shares, compared to its average volume of 531,872. The stock has a fifty day simple moving average of $49.30 and a 200 day simple moving average of $44.71. Rhythm Pharmaceuticals has a 1-year low of $21.67 and a 1-year high of $55.64. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -10.74 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) 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 analyst estimates 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 revenue for the quarter was up 51.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. Sell-side analysts expect that Rhythm Pharmaceuticals will post -4.43 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Pamela J. Cramer sold 1,395 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,556,919.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Rhythm Pharmaceuticals news, Director Jennifer L. Good sold 31,751 shares of the business's stock in a transaction that occurred on 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 transaction, the director now owns 3,000 shares of the company's stock, valued at $157,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pamela J. Cramer sold 1,395 shares of the company's stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $49.06, for a total value of $68,438.70. Following the sale, the insider now owns 31,735 shares in the company, valued at approximately $1,556,919.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,252 shares of company stock worth $5,393,885 over the last ninety days. Company insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew 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 valued at $27,000 after acquiring an additional 253 shares during the period. ORG Partners LLC bought a new position in shares of Rhythm Pharmaceuticals in the second quarter valued at about $51,000. ORG Wealth Partners LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the 3rd quarter worth about $63,000. Quest Partners LLC lifted its stake in shares of Rhythm Pharmaceuticals by 513.3% during 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 boosted its holdings 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 worth $85,000 after buying 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.