Rhythm Pharmaceuticals (NASDAQ:RYTM) Price Target Raised to $91.00

Rhythm Pharmaceuticals (NASDAQ:RYTM - Free Report) had its target price boosted by Wells Fargo & Company from $80.00 to $91.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently issued reports on RYTM. Jefferies Financial Group assumed coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They issued a "buy" rating and a $80.00 price objective for the company. Needham & Company LLC increased their price target on shares of Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Stifel Nicolaus started coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They set a "buy" rating and a $78.00 price target for the company. Morgan Stanley restated an "overweight" rating and issued a $72.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Finally, Bank of America raised shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price for the company in a research note on Monday, April 7th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, Rhythm Pharmaceuticals currently has an average rating of "Buy" and an average target price of $74.92.

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Rhythm Pharmaceuticals Trading Up 3.0 %

NASDAQ RYTM traded up $1.72 during trading on Monday, hitting $59.55. The company had a trading volume of 681,857 shares, compared to its average volume of 543,240. The company's fifty day moving average is $54.57 and its 200-day moving average is $55.34. The company has a market cap of $3.76 billion, a price-to-earnings ratio of -13.75 and a beta of 2.32. Rhythm Pharmaceuticals has a one year low of $35.17 and a one year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS 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 company had revenue of $41.83 million during the quarter, compared to analysts' expectations of $38.48 million. As a group, equities analysts anticipate that Rhythm Pharmaceuticals will post -4.32 EPS for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, CFO Hunter C. Smith sold 1,678 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $99,723.54. Following the sale, the chief financial officer now owns 101,186 shares of the company's stock, valued at $6,013,483.98. This trade represents a 1.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Yann Mazabraud sold 75,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the transaction, the executive vice president now directly owns 40,370 shares of the company's stock, valued at $2,078,247.60. The trade was a 65.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,641 shares of company stock worth $8,112,177. Insiders own 5.60% of the company's stock.

Institutional Trading of Rhythm Pharmaceuticals

Several large investors have recently modified their holdings of the company. FMR LLC boosted its position in Rhythm Pharmaceuticals by 79.7% in the third quarter. FMR LLC now owns 50,295 shares of the company's stock worth $2,635,000 after purchasing an additional 22,306 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Rhythm Pharmaceuticals by 307.1% in the third quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company's stock worth $756,000 after buying an additional 10,882 shares during the last quarter. Principal Financial Group Inc. grew its position in Rhythm Pharmaceuticals by 241.9% during the third quarter. Principal Financial Group Inc. now owns 32,586 shares of the company's stock valued at $1,707,000 after buying an additional 23,054 shares during the period. Barclays PLC increased its holdings in Rhythm Pharmaceuticals by 79.6% during the third quarter. Barclays PLC now owns 106,397 shares of the company's stock valued at $5,574,000 after buying an additional 47,166 shares during the last quarter. Finally, KBC Group NV raised its position in Rhythm Pharmaceuticals by 78.2% in the fourth quarter. KBC Group NV now owns 2,251 shares of the company's stock worth $126,000 after acquiring an additional 988 shares during the period.

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.