Rhythm Pharmaceuticals (NASDAQ:RYTM) Now Covered by Oppenheimer

Research analysts at Oppenheimer began coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) in a research note issued on Friday, Marketbeat reports. The brokerage set an "outperform" rating and a $76.00 price target on the stock. Oppenheimer's target price indicates a potential upside of 35.42% from the stock's current price.

RYTM has been the topic of several other research reports. Bank of America upped their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. The Goldman Sachs Group increased their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. HC Wainwright restated a "buy" rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Wednesday, December 4th. Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a "buy" rating and a $70.00 price target on the stock. Finally, JMP Securities assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They set an "outperform" rating and a $64.00 price objective for the company. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $65.80.

Rhythm Pharmaceuticals Trading Up 1.2 %

Shares of RYTM stock traded up $0.64 during midday trading on Friday, reaching $56.12. 1,520,023 shares of the stock were exchanged, compared to its average volume of 548,620. The firm has a market cap of $3.45 billion, a PE ratio of -12.96 and a beta of 2.14. The company's 50 day moving average is $56.26 and its two-hundred day moving average is $49.86. Rhythm Pharmaceuticals has a 1 year low of $35.17 and a 1 year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.80) by $0.07. The business had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm's quarterly revenue was up 47.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.76) earnings per share. As a group, equities analysts expect that Rhythm Pharmaceuticals will post -4.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 13,281 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $66.44, for a total transaction of $882,389.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jennifer Kayden Lee sold 66,861 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the completion of the sale, the executive vice president now owns 972 shares of the company's stock, valued at $64,472.76. This trade represents a 98.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,830 shares of company stock worth $5,622,000. Insiders own 5.60% of the company's stock.

Institutional Trading of Rhythm Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC increased its stake in Rhythm Pharmaceuticals by 5.4% in the 2nd quarter. Perceptive Advisors LLC now owns 3,446,579 shares of the company's stock worth $141,517,000 after buying an additional 178,000 shares during the period. Frazier Life Sciences Management L.P. grew its stake in Rhythm Pharmaceuticals by 1.9% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company's stock worth $126,624,000 after acquiring an additional 45,648 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Rhythm Pharmaceuticals by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company's stock worth $65,824,000 after acquiring an additional 3,499 shares during the period. Driehaus Capital Management LLC raised its stake in shares of Rhythm Pharmaceuticals by 38.2% during the second quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company's stock valued at $48,548,000 after acquiring an additional 326,865 shares in the last quarter. Finally, Alkeon Capital Management LLC raised its stake in shares of Rhythm Pharmaceuticals by 16.8% during the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company's stock valued at $61,176,000 after acquiring an additional 167,700 shares in the last quarter.

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.