Rhythm Pharmaceuticals (NASDAQ:RYTM) Receives "Buy" Rating from HC Wainwright

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $80.00 price target on the stock, up from their previous price target of $70.00. HC Wainwright's price objective points to a potential upside of 34.34% from the stock's previous close.

Other analysts also recently issued research reports about the stock. JMP Securities reiterated a "market outperform" rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Canaccord Genuity Group upped their target price on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Oppenheimer assumed coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They set an "outperform" rating and a $76.00 price target on the stock. Stifel Nicolaus began coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a "buy" rating and a $78.00 price objective for the company. Finally, 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 on the stock. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $74.92.

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Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ RYTM traded up $1.72 during mid-day trading on Tuesday, reaching $59.55. 681,857 shares of the company's stock were exchanged, compared to its average volume of 543,240. The company's 50-day moving average is $54.57 and its 200-day moving average is $55.34. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of -13.75 and a beta of 2.32. Rhythm Pharmaceuticals has a 52-week low of $35.17 and a 52-week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its 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). 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 for the quarter, compared to analyst estimates of $38.48 million. As a group, equities analysts predict that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current fiscal year.

Insider Activity 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 shares were 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 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 at the SEC website. Also, CFO Hunter C. Smith sold 1,678 shares of the company'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 completion of the sale, the chief financial officer now owns 101,186 shares in the company, valued at approximately $6,013,483.98. This trade represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, 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 Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP lifted its position in shares of Rhythm Pharmaceuticals by 2.3% in the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company's stock worth $733,000 after buying an additional 300 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock worth $25,000 after acquiring an additional 400 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Rhythm Pharmaceuticals by 2.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,156 shares of the company's stock valued at $1,857,000 after purchasing an additional 654 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Rhythm Pharmaceuticals during the fourth quarter valued at approximately $37,000.

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.