Rhythm Pharmaceuticals (NASDAQ:RYTM) Coverage Initiated at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM - Free Report) in a report published on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $78.00 price target on the stock.

Several other equities research analysts have also commented on RYTM. The Goldman Sachs Group upped their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Oppenheimer assumed coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an "outperform" rating and a $76.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Thursday, February 27th. HC Wainwright upped their price objective on Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Finally, Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a "buy" rating and a $80.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $69.31.

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Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM traded down $0.85 during midday trading on Wednesday, hitting $50.79. The company's stock had a trading volume of 637,652 shares, compared to its average volume of 491,829. Rhythm Pharmaceuticals has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The firm's 50 day moving average is $56.53 and its 200-day moving average is $54.48. The firm has a market cap of $3.21 billion, a P/E ratio of -11.73 and a beta of 2.30.

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 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 analyst estimates of $38.48 million. As a group, analysts forecast that Rhythm Pharmaceuticals will post -4.32 EPS for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,281 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the completion of the sale, the insider now directly owns 2,657 shares of the company's stock, valued at $157,905.51. This trade represents a 32.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $36,334.70. Following the completion of the sale, the chief accounting officer now directly owns 2,070 shares of the company's stock, valued at $118,445.40. This trade represents a 23.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,787 shares of company stock worth $1,901,443. Corporate insiders own 5.60% of the company's stock.

Institutional Trading of Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Castleark Management LLC increased its stake in shares of Rhythm Pharmaceuticals by 1.3% in the 3rd quarter. Castleark Management LLC now owns 19,260 shares of the company's stock worth $1,009,000 after acquiring an additional 250 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Rhythm Pharmaceuticals by 2.3% during the 4th 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 last quarter. SRS Capital Advisors Inc. increased its position in shares of Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock worth $25,000 after purchasing an additional 400 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $28,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Rhythm Pharmaceuticals by 2.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,156 shares of the company's stock worth $1,857,000 after purchasing an additional 654 shares during the last quarter.

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.