Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives Consensus Rating of "Moderate Buy" from Brokerages

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $69.46.

A number of brokerages have recently commented on RYTM. Needham & Company LLC boosted their price target on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. Canaccord Genuity Group increased their target price on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and issued a $70.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, March 24th. Morgan Stanley reissued an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd.

Rhythm Pharmaceuticals Trading Up 2.2 %

RYTM traded up $1.08 during trading on Friday, reaching $51.08. The stock had a trading volume of 307,886 shares, compared to its average volume of 509,919. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of -11.80 and a beta of 2.30. The stock's 50 day moving average is $55.22 and its two-hundred day moving average is $55.14. Rhythm Pharmaceuticals has a one year low of $35.17 and a one year high of $68.58.

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Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate 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. On average, equities research analysts predict that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current year.

Insider Activity

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 75,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the completion of the sale, the executive vice president now directly owns 40,370 shares of the company's stock, valued at approximately $2,078,247.60. This represents a 65.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Hunter C. Smith sold 1,678 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $99,723.54. Following the transaction, the chief financial officer now owns 101,186 shares in the company, valued at $6,013,483.98. This represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,131 shares of company stock valued at $5,781,098 in the last quarter. 5.60% of the stock is currently owned by insiders.

Institutional Trading of Rhythm Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at about $4,259,000. GF Fund Management CO. LTD. bought a new stake in Rhythm Pharmaceuticals during the 4th quarter worth approximately $72,000. Voloridge Investment Management LLC lifted its holdings in Rhythm Pharmaceuticals by 7.7% during the fourth quarter. Voloridge Investment Management LLC now owns 380,537 shares of the company's stock valued at $21,302,000 after purchasing an additional 27,214 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Rhythm Pharmaceuticals by 2.3% in the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the company's stock worth $733,000 after purchasing an additional 300 shares during the period. Finally, State of Wyoming purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth $61,000.

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.