Rhythm Pharmaceuticals' (RYTM) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM - Free Report) in a report issued on Monday,Benzinga reports. They currently have a $69.00 price target on the stock.

A number of other equities analysts also recently issued reports on the company. Needham & Company LLC increased their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Oppenheimer initiated coverage on Rhythm Pharmaceuticals in a research report on Friday. They set an "outperform" rating and a $76.00 target price on the stock. Guggenheim started coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a "buy" rating and a $70.00 price target for the company. Bank of America increased their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $66.90.

Rhythm Pharmaceuticals Stock Down 0.1 %

Shares of NASDAQ:RYTM traded down $0.08 during trading on Monday, hitting $56.04. 904,976 shares of the stock traded hands, compared to its average volume of 550,063. The company has a fifty day moving average price of $56.51 and a two-hundred day moving average price of $50.25. Rhythm Pharmaceuticals has a 52-week low of $35.17 and a 52-week high of $68.58. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -12.94 and a beta of 2.14.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating analysts' consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $33.20 million during the quarter, compared to analysts' expectations of $32.52 million. During the same quarter in the previous year, the company earned ($0.76) earnings per share. The firm's revenue for the quarter was up 47.6% on a year-over-year basis. On average, equities research analysts predict that Rhythm Pharmaceuticals will post -4.34 EPS for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 13,281 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $66.44, for a total transaction of $882,389.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pamela J. Cramer sold 4,688 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $65.00, for a total transaction of $304,720.00. Following the completion of the sale, the insider now directly owns 13,500 shares of the company's stock, valued at approximately $877,500. This trade represents a 25.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,830 shares of company stock worth $5,622,000 in the last ninety days. Insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at $63,000. Quest Partners LLC increased its holdings in Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company's stock valued at $68,000 after purchasing an additional 1,391 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Rhythm Pharmaceuticals by 21.5% in 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. Creative Planning acquired a new position in Rhythm Pharmaceuticals during the third quarter worth $450,000. Finally, Principal Financial Group Inc. boosted its position in shares of Rhythm Pharmaceuticals by 32.8% during the second quarter. Principal Financial Group Inc. now owns 9,532 shares of the company's stock worth $391,000 after buying an additional 2,352 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.