Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Given Consensus Recommendation of "Buy" by Brokerages

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) has been given a consensus recommendation of "Buy" by the thirteen ratings firms that are presently covering the company, MarketBeat reports. Thirteen analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $74.92.

RYTM has been the topic of a number of research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $66.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Canaccord Genuity Group boosted their price objective on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Wells Fargo & Company raised their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a report on Monday, April 7th. Stifel Nicolaus initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a "buy" rating and a $78.00 price target on the stock. Finally, Morgan Stanley reissued an "overweight" rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th.

Rhythm Pharmaceuticals Stock Down 2.1 %

Shares of Rhythm Pharmaceuticals stock opened at $59.23 on Wednesday. The business's fifty day simple moving average is $54.84 and its 200-day simple moving average is $55.81. The firm has a market cap of $3.74 billion, a PE ratio of -13.68 and a beta of 2.32. Rhythm Pharmaceuticals has a 52 week low of $35.17 and a 52 week high of $68.58.

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

Insiders Place Their Bets

In other news, insider Pamela J. Cramer sold 20,760 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $60.14, for a total transaction of $1,248,506.40. Following the completion of the sale, the insider now directly owns 19,209 shares of the company's stock, valued at approximately $1,155,229.26. The trade was a 51.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00. Following the completion of the transaction, the executive vice president now directly owns 40,370 shares in the company, valued at $2,078,247.60. This trade represents a 65.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,641 shares of company stock worth $8,112,177 in the last 90 days. Corporate insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in RYTM. SRS Capital Advisors Inc. increased its stake in Rhythm Pharmaceuticals by 740.7% in the fourth 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 last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new stake in Rhythm Pharmaceuticals during the 4th quarter worth $37,000. R Squared Ltd purchased a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at $44,000. Finally, State of Wyoming acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at $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.

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