Rhythm Pharmaceuticals (NASDAQ:RYTM) Reaches New 52-Week High - What's Next?

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $69.50 and last traded at $69.50, with a volume of 115 shares. The stock had previously closed at $67.33.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. HC Wainwright lifted their target price on Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the company a "buy" rating in a research note on Thursday. Canaccord Genuity Group upped their price objective on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. JMP Securities assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They issued an "outperform" rating and a $64.00 target price for the company. TD Cowen boosted their price target on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Finally, Bank of America increased their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $62.30.

Rhythm Pharmaceuticals Price Performance

The stock has a market capitalization of $4.03 billion, a P/E ratio of -15.55 and a beta of 2.09. The stock's fifty day moving average is $51.01 and its 200-day moving average is $45.87.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. During the same quarter in the prior year, the company posted ($0.76) EPS. The firm's revenue was up 47.6% on a year-over-year basis. On average, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.41 EPS for the current year.

Insider Activity

In related news, insider Pamela J. Cramer sold 4,688 shares of the firm's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $65.00, for a total value of $304,720.00. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $877,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Jennifer L. Good sold 31,751 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total value of $1,663,752.40. Following the completion of the sale, the director now directly owns 3,000 shares of the company's stock, valued at approximately $157,200. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pamela J. Cramer sold 4,688 shares of the business's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $65.00, for a total transaction of $304,720.00. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at $877,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,539 shares of company stock valued at $3,417,545 over the last 90 days. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC lifted its stake in shares of Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company's stock valued at $27,000 after buying an additional 253 shares during the period. ORG Partners LLC bought a new stake in shares of Rhythm Pharmaceuticals in the 2nd quarter worth approximately $51,000. ORG Wealth Partners LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the 3rd quarter worth approximately $63,000. Quest Partners LLC grew its holdings in shares of Rhythm Pharmaceuticals by 513.3% during the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company's stock worth $68,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rhythm Pharmaceuticals by 21.5% during the third 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 period.

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.