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

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eleven brokerages that are covering the company, 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 brokerages that have issued a report on the stock in the last year is $68.09.

Several research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a "buy" rating and a $80.00 target price on the stock. Bank of America lifted their target price on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. JMP Securities reissued a "market outperform" rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Oppenheimer assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an "outperform" rating and a $76.00 target price on the stock. Finally, The Goldman Sachs Group lifted their target price on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM traded down $1.01 during mid-day trading on Friday, hitting $58.18. The company's stock had a trading volume of 190,222 shares, compared to its average volume of 495,977. The firm has a 50-day moving average price of $57.26 and a 200 day moving average price of $53.36. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -13.42 and a beta of 2.14. Rhythm Pharmaceuticals has a fifty-two week low of $35.17 and a fifty-two week high of $68.58.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, EVP Jennifer Kayden Lee sold 1,447 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $85,995.21. Following the completion of the sale, the executive vice president now directly owns 4,038 shares in the company, valued at approximately $239,978.34. The trade was a 26.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph Shulman sold 1,281 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $76,129.83. Following the completion of the sale, the insider now owns 2,657 shares of the company's stock, valued at $157,905.51. The trade was a 32.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,684 shares of company stock worth $516,090 over the last ninety days. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Castleark Management LLC raised its stake in Rhythm Pharmaceuticals by 1.3% during the 3rd quarter. Castleark Management LLC now owns 19,260 shares of the company's stock valued at $1,009,000 after purchasing an additional 250 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake 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 purchasing an additional 391 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in Rhythm Pharmaceuticals by 740.7% during the 4th 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. bought a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at $28,000. Finally, SBI Securities Co. Ltd. bought a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at $37,000.

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.