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

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eleven analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $68.09.

RYTM has been the subject of a number of research analyst reports. Needham & Company LLC increased their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Guggenheim started coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a "buy" rating and a $70.00 price target on the stock. HC Wainwright restated a "buy" rating and set a $69.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. The Goldman Sachs Group raised their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 13,281 shares of the firm's stock in a transaction that occurred 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 accessible through this hyperlink. Also, insider Pamela J. Cramer sold 4,688 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $65.00, for a total transaction of $304,720.00. Following the completion of the transaction, the insider now owns 13,500 shares of the company's stock, valued at approximately $877,500. The trade was a 25.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,830 shares of company stock worth $5,622,000. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new position in shares of Rhythm Pharmaceuticals in the third quarter valued at about $63,000. Quest Partners LLC boosted its stake in Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company's stock worth $68,000 after purchasing an additional 1,391 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Rhythm Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company's stock valued at $114,000 after buying an additional 391 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Rhythm Pharmaceuticals by 32.8% during the second quarter. Principal Financial Group Inc. now owns 9,532 shares of the company's stock valued at $391,000 after buying an additional 2,352 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of Rhythm Pharmaceuticals in the third quarter worth $450,000.

Rhythm Pharmaceuticals Stock Performance

RYTM stock opened at $56.17 on Monday. Rhythm Pharmaceuticals has a 52-week low of $35.17 and a 52-week high of $68.58. The company has a market capitalization of $3.45 billion, a P/E ratio of -12.97 and a beta of 2.16. The company has a fifty day moving average price of $58.63 and a 200-day moving average price of $51.80.

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

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.