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

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $62.30.

RYTM has been the subject of a number of recent research reports. Needham & Company LLC upped their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Guggenheim assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, October 21st. They issued a "buy" rating and a $70.00 price target for the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. TD Cowen raised their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Finally, JMP Securities began coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an "outperform" rating and a $64.00 price target for the company.

Rhythm Pharmaceuticals Trading Up 1.5 %

Rhythm Pharmaceuticals stock traded up $0.91 during trading hours on Friday, reaching $59.94. 302,442 shares of the stock were exchanged, compared to its average volume of 708,100. The company has a market cap of $3.68 billion, a P/E ratio of -13.84 and a beta of 2.09. The stock has a 50 day moving average of $53.35 and a two-hundred day moving average of $47.22. Rhythm Pharmaceuticals has a twelve month low of $31.52 and a twelve month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating analysts' consensus estimates of ($0.80) by $0.07. The company had revenue of $33.20 million for the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm's quarterly revenue was up 47.6% compared to the same quarter last year. During the same period last year, the company posted ($0.76) EPS. On average, analysts expect that Rhythm Pharmaceuticals will post -4.36 earnings per share for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 3,200 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $50.01, for a total transaction of $160,032.00. Following the completion of the transaction, the insider now directly owns 13,500 shares in the company, valued at $675,135. This trade represents a 19.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Shulman sold 13,281 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $66.44, for a total transaction of $882,389.64. The disclosure for this sale can be found here. Insiders have sold 145,681 shares of company stock worth $8,734,825 in the last quarter. Company insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P purchased a new position in Rhythm Pharmaceuticals in the third quarter worth $33,353,000. Driehaus Capital Management LLC grew its stake in shares of Rhythm Pharmaceuticals by 38.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company's stock worth $48,548,000 after acquiring an additional 326,865 shares during the period. Canada Pension Plan Investment Board increased its holdings in Rhythm Pharmaceuticals by 116.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 577,000 shares of the company's stock worth $25,001,000 after acquiring an additional 310,000 shares during the last quarter. Candriam S.C.A. bought a new stake in Rhythm Pharmaceuticals in the 2nd quarter valued at about $11,143,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Rhythm Pharmaceuticals by 32.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 967,243 shares of the company's stock valued at $39,715,000 after acquiring an additional 236,600 shares during the period.

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.