Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Given Average Rating of "Moderate Buy" by Brokerages

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $69.31.

RYTM has been the subject of a number of recent research reports. JMP Securities restated a "market outperform" rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Needham & Company LLC restated a "buy" rating and set a $64.00 price target on shares of Rhythm Pharmaceuticals in a research note on Thursday, February 27th. The Goldman Sachs Group upped their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Morgan Stanley restated an "overweight" rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday. Finally, Canaccord Genuity Group upped their price target on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a "buy" rating in a research report on Thursday, February 27th.

Rhythm Pharmaceuticals Trading Down 1.6 %

RYTM traded down $0.85 during trading on Tuesday, hitting $50.79. The stock had a trading volume of 590,952 shares, compared to its average volume of 491,178. The firm has a market cap of $3.12 billion, a PE ratio of -11.73 and a beta of 2.30. Rhythm Pharmaceuticals has a 12 month low of $35.17 and a 12 month high of $68.58. The company has a 50 day simple moving average of $56.63 and a 200-day simple moving average of $54.45.

Remove Ads

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business had revenue of $41.83 million during the quarter, compared to the consensus estimate of $38.48 million. As a group, sell-side analysts anticipate that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David P. Meeker sold 9,896 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $566,249.12. Following the completion of the sale, the chief executive officer now owns 201,281 shares in the company, valued at $11,517,298.82. The trade was a 4.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jennifer Kayden Lee sold 1,815 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $56.39, for a total value of $102,347.85. Following the completion of the transaction, the executive vice president now owns 3,598 shares in the company, valued at approximately $202,891.22. This represents a 33.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,787 shares of company stock valued at $1,901,443. Insiders own 5.60% of the company's stock.

Institutional Trading of Rhythm Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. raised its stake 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 buying an additional 400 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Rhythm Pharmaceuticals during the 4th quarter worth $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $37,000. R Squared Ltd bought a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth $44,000. Finally, State of Wyoming bought a new position in Rhythm Pharmaceuticals during the fourth quarter worth about $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.