Rhythm Pharmaceuticals (NASDAQ:RYTM) Given New $66.00 Price Target at Needham & Company LLC

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) had its price target boosted by Needham & Company LLC from $64.00 to $66.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price objective would indicate a potential upside of 26.83% from the stock's previous close.

RYTM has been the topic of several other reports. HC Wainwright increased their price target on shares of Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Morgan Stanley restated an "overweight" rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. JMP Securities restated a "market outperform" rating and set a $75.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Oppenheimer assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an "outperform" rating and a $76.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $69.46.

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Rhythm Pharmaceuticals Trading Down 4.0 %

Shares of RYTM stock traded down $2.19 during trading hours on Tuesday, hitting $52.04. The company's stock had a trading volume of 902,524 shares, compared to its average volume of 485,665. The business has a fifty day moving average of $55.30 and a 200-day moving average of $54.90. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -12.02 and a beta of 2.30. Rhythm Pharmaceuticals has a twelve month low of $35.17 and a twelve month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The business had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. On average, equities analysts expect that Rhythm Pharmaceuticals will post -4.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Hunter C. Smith sold 1,678 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $99,723.54. Following the completion of the transaction, the chief financial officer now directly owns 101,186 shares of the company's stock, valued at approximately $6,013,483.98. The trade was a 1.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Yann Mazabraud sold 75,000 shares of Rhythm Pharmaceuticals stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the completion of the transaction, the executive vice president now directly owns 40,370 shares of the company's stock, valued at $2,078,247.60. This trade represents a 65.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,787 shares of company stock valued at $5,762,443 in the last quarter. Company insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SRS Capital Advisors Inc. boosted its stake in Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after purchasing an additional 400 shares during the period. Raleigh Capital Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $37,000. R Squared Ltd purchased a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at approximately $44,000. Finally, State of Wyoming purchased a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at approximately $61,000.

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.