Rhythm Pharmaceuticals (NASDAQ:RYTM) Earns Market Outperform Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM - Free Report) in a research report report published on Monday morning,Benzinga reports. JMP Securities currently has a $75.00 price objective on the stock.

A number of other equities research analysts have also recently commented on the stock. Needham & Company LLC increased their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Bank of America increased their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Monday, October 14th. TD Cowen upped their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. The Goldman Sachs Group increased their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a "buy" rating in a research note 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 note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $66.90.

Rhythm Pharmaceuticals Trading Down 0.1 %

Shares of RYTM traded down $0.08 during trading hours on Monday, hitting $56.04. The company had a trading volume of 904,976 shares, compared to its average volume of 550,063. The company has a market capitalization of $3.44 billion, a PE ratio of -12.94 and a beta of 2.14. Rhythm Pharmaceuticals has a one year low of $35.17 and a one year high of $68.58. The company's fifty day moving average price is $56.51 and its two-hundred day moving average price is $50.25.

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

Insiders Place Their Bets

In related news, insider Joseph Shulman sold 13,281 shares of the firm'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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jennifer Kayden Lee sold 66,861 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $66.33, for a total value of $4,434,890.13. Following the transaction, the executive vice president now owns 972 shares of the company's stock, valued at approximately $64,472.76. This represents a 98.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,830 shares of company stock valued at $5,622,000. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Rhythm Pharmaceuticals by 14.3% in the second quarter. Bank of New York Mellon Corp now owns 191,871 shares of the company's stock worth $7,878,000 after acquiring an additional 24,033 shares during the period. Principal Financial Group Inc. boosted its position in Rhythm Pharmaceuticals by 32.8% during the second quarter. Principal Financial Group Inc. now owns 9,532 shares of the company's stock worth $391,000 after purchasing an additional 2,352 shares in the last quarter. Rhumbline Advisers boosted its position in Rhythm Pharmaceuticals by 8.3% during the second quarter. Rhumbline Advisers now owns 83,063 shares of the company's stock worth $3,411,000 after purchasing an additional 6,339 shares in the last quarter. TD Asset Management Inc grew its holdings in Rhythm Pharmaceuticals by 12.3% in the second quarter. TD Asset Management Inc now owns 31,000 shares of the company's stock valued at $1,273,000 after purchasing an additional 3,400 shares during the period. Finally, National Bank of Canada FI increased its position in shares of Rhythm Pharmaceuticals by 10.0% in the second quarter. National Bank of Canada FI now owns 404,242 shares of the company's stock valued at $17,249,000 after buying an additional 36,725 shares in the last quarter.

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.