Rhythm Pharmaceuticals (NASDAQ:RYTM) Upgraded at Bank of America

Bank of America upgraded shares of Rhythm Pharmaceuticals (NASDAQ:RYTM - Free Report) from a neutral rating to a buy rating in a report issued on Monday morning, Marketbeat.com reports. Bank of America currently has $63.00 target price on the stock.

RYTM has been the subject of a number of other reports. Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They set a "buy" rating and a $78.00 price objective for the company. Needham & Company LLC upped their price objective on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Oppenheimer started coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They set an "outperform" rating and a $76.00 price objective on the stock. Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a "buy" rating and a $80.00 target price for the company. Finally, JMP Securities reissued a "market outperform" rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $74.92.

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Rhythm Pharmaceuticals Stock Up 3.0 %

RYTM traded up $1.72 during trading on Monday, reaching $59.55. 681,857 shares of the company were exchanged, compared to its average volume of 543,240. Rhythm Pharmaceuticals has a 12-month low of $35.17 and a 12-month high of $68.58. The company's 50-day moving average is $54.57 and its two-hundred 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 (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.03). The firm had revenue of $41.83 million during the quarter, compared to analysts' expectations of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. Equities analysts forecast that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, EVP Yann Mazabraud sold 75,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00. Following the sale, the executive vice president now directly owns 40,370 shares of the company's stock, valued at $2,078,247.60. This represents a 65.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Shulman sold 1,281 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $76,129.83. Following the completion of the transaction, the insider now owns 2,657 shares of the company's stock, valued at approximately $157,905.51. The trade was a 32.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,641 shares of company stock worth $8,112,177. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its position in shares of Rhythm Pharmaceuticals by 3.6% in the 1st quarter. Rhumbline Advisers now owns 85,719 shares of the company's stock worth $4,541,000 after purchasing an additional 2,988 shares in the last quarter. GAMMA Investing LLC increased its position in Rhythm Pharmaceuticals by 7,305.5% during the 1st quarter. GAMMA Investing LLC now owns 14,885 shares of the company's stock valued at $788,000 after buying an additional 14,684 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Rhythm Pharmaceuticals during the fourth quarter valued at $4,259,000. GF Fund Management CO. LTD. bought a new stake in Rhythm Pharmaceuticals in the fourth quarter worth $72,000. Finally, Voloridge Investment Management LLC grew its stake in shares of Rhythm Pharmaceuticals by 7.7% in the fourth quarter. Voloridge Investment Management LLC now owns 380,537 shares of the company's stock worth $21,302,000 after acquiring an additional 27,214 shares during 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.