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Needham & Company LLC Weighs in on RYTM FY2029 Earnings

Rhythm Pharmaceuticals logo with Medical background

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) - Needham & Company LLC issued their FY2029 EPS estimates for shares of Rhythm Pharmaceuticals in a note issued to investors on Thursday, February 6th. Needham & Company LLC analyst J. Stringer expects that the company will post earnings of $6.55 per share for the year. Needham & Company LLC has a "Buy" rating and a $64.00 price target on the stock. The consensus estimate for Rhythm Pharmaceuticals' current full-year earnings is ($4.33) per share.

Other equities analysts have also recently issued reports about the company. Guggenheim began coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They issued a "buy" rating and a $70.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a "buy" rating and a $80.00 target price for the company. JMP Securities restated a "market outperform" rating and set a $75.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $68.09.

Get Our Latest Stock Report on Rhythm Pharmaceuticals

Rhythm Pharmaceuticals Stock Down 0.1 %

Shares of NASDAQ RYTM traded down $0.08 during midday trading on Monday, hitting $57.56. The stock had a trading volume of 298,610 shares, compared to its average volume of 481,618. The company has a market cap of $3.54 billion, a P/E ratio of -13.29 and a beta of 2.14. The business's 50 day moving average is $57.11 and its 200-day moving average is $53.51. Rhythm Pharmaceuticals has a 52 week low of $35.17 and a 52 week high of $68.58.

Insiders Place Their Bets

In other news, CEO David P. Meeker sold 4,278 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $254,241.54. Following the transaction, the chief executive officer now owns 189,927 shares of the company's stock, valued at $11,287,361.61. This trade represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Shulman sold 794 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $57.51, for a total value of $45,662.94. Following the transaction, the insider now owns 6 shares of the company's stock, valued at approximately $345.06. This trade represents a 99.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,963 shares of company stock worth $883,060. Company insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of hedge funds have recently modified their holdings of RYTM. Castleark Management LLC lifted its holdings in Rhythm Pharmaceuticals by 1.3% in the 3rd quarter. Castleark Management LLC now owns 19,260 shares of the company's stock worth $1,009,000 after purchasing an additional 250 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company's stock worth $114,000 after buying an additional 391 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Rhythm Pharmaceuticals by 740.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock worth $25,000 after acquiring an additional 400 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in Rhythm Pharmaceuticals during the fourth quarter valued at $28,000. Finally, SBI Securities Co. Ltd. bought a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at $37,000.

Rhythm Pharmaceuticals Company Profile

(Get Free Report)

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.

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