Rhythm Pharmaceuticals (NASDAQ:RYTM) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) issued its earnings results on Wednesday. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03), Zacks reports. 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 for the quarter, compared to the consensus estimate of $38.48 million.

Rhythm Pharmaceuticals Stock Up 3.6 %

Shares of NASDAQ:RYTM traded up $1.91 during midday trading on Friday, reaching $54.91. The company's stock had a trading volume of 641,500 shares, compared to its average volume of 489,922. The firm has a market capitalization of $3.37 billion, a PE ratio of -12.68 and a beta of 2.14. Rhythm Pharmaceuticals has a twelve month low of $35.17 and a twelve month high of $68.58. The stock has a fifty day moving average of $56.91 and a 200 day moving average of $54.28.

Insider Transactions at Rhythm Pharmaceuticals

In other news, CEO David P. Meeker sold 9,896 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $566,249.12. Following the sale, the chief executive officer now owns 201,281 shares in the company, valued at $11,517,298.82. This represents a 4.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer Kayden Lee sold 4,189 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $58.91, for a total transaction of $246,773.99. Following the completion of the sale, the executive vice president now owns 4,409 shares in the company, valued at $259,734.19. The trade was a 48.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,787 shares of company stock worth $1,901,443 over the last 90 days. 5.60% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

Several analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a "buy" rating and a $80.00 price target for the company. The Goldman Sachs Group increased their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Needham & Company LLC reissued a "buy" rating and set a $64.00 price target on shares of Rhythm Pharmaceuticals in a research report on Thursday. JMP Securities reissued a "market outperform" rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Finally, Oppenheimer started coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an "outperform" rating and a $76.00 price objective for the company. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $68.18.

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.