Rhythm Pharmaceuticals (NASDAQ:RYTM) Given Overweight Rating at Morgan Stanley

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report)'s stock had its "overweight" rating reiterated by Morgan Stanley in a report released on Friday,Benzinga reports. They presently have a $72.00 price target on the stock. Morgan Stanley's price target would indicate a potential upside of 43.83% from the company's current price.

A number of other research firms have also recently weighed in on RYTM. The Goldman Sachs Group lifted their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, December 5th. JMP Securities reiterated a "market outperform" rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Oppenheimer began coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an "outperform" rating and a $76.00 price objective for the company. HC Wainwright increased their target price on Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $64.00 price target on shares of Rhythm Pharmaceuticals in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Rhythm Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $69.31.

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Rhythm Pharmaceuticals Stock Up 3.1 %

Shares of RYTM traded up $1.50 during mid-day trading on Friday, reaching $50.06. The company had a trading volume of 1,014,114 shares, compared to its average volume of 492,990. The stock has a market capitalization of $3.16 billion, a P/E ratio of -11.56 and a beta of 2.30. Rhythm Pharmaceuticals has a 52-week low of $35.17 and a 52-week high of $68.58. The stock has a 50 day moving average of $56.38 and a two-hundred day moving average of $54.64.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released 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). The company 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%. On average, sell-side analysts expect that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current year.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 2,215 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $126,742.30. Following the transaction, the chief financial officer now directly owns 109,929 shares of the company's stock, valued at $6,290,137.38. This trade represents a 1.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph Shulman sold 1,281 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the transaction, the insider now owns 2,657 shares in the company, valued at approximately $157,905.51. This represents a 32.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,787 shares of company stock worth $1,901,443. 5.60% of the stock is owned by insiders.

Institutional Trading of Rhythm Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in shares of Rhythm Pharmaceuticals by 241.9% during the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company's stock valued at $1,707,000 after acquiring an additional 23,054 shares during the last quarter. Victory Capital Management Inc. raised its stake in Rhythm Pharmaceuticals by 158.0% during the third quarter. Victory Capital Management Inc. now owns 18,186 shares of the company's stock worth $953,000 after purchasing an additional 11,137 shares during the period. Quest Partners LLC boosted its holdings in Rhythm Pharmaceuticals by 451.6% in the 3rd quarter. Quest Partners LLC now owns 9,167 shares of the company's stock valued at $480,000 after purchasing an additional 7,505 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at approximately $649,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 433,866 shares of the company's stock worth $22,730,000 after buying an additional 5,908 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.