HC Wainwright Issues Pessimistic Outlook for RYTM Earnings

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) - Research analysts at HC Wainwright cut their FY2024 earnings estimates for shares of Rhythm Pharmaceuticals in a note issued to investors on Thursday, November 7th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($4.45) per share for the year, down from their prior estimate of ($4.42). HC Wainwright has a "Buy" rating and a $69.00 price objective on the stock. The consensus estimate for Rhythm Pharmaceuticals' current full-year earnings is ($4.41) per share. HC Wainwright also issued estimates for Rhythm Pharmaceuticals' Q4 2024 earnings at ($0.84) EPS, Q1 2025 earnings at ($0.81) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.70) EPS, Q4 2025 earnings at ($0.61) EPS and FY2025 earnings at ($2.87) EPS.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $32.52 million. During the same period in the prior year, the business posted ($0.76) EPS. Rhythm Pharmaceuticals's revenue was up 47.6% on a year-over-year basis.

Several other equities analysts have also issued reports on RYTM. Bank of America boosted their price target 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. Needham & Company LLC raised 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. TD Cowen lifted their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Guggenheim initiated coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They set a "buy" rating and a $70.00 target price for the company. Finally, JMP Securities began coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an "outperform" rating and a $64.00 price target on the stock. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.30.

Rhythm Pharmaceuticals Stock Performance

NASDAQ:RYTM traded down $1.37 during trading hours on Monday, hitting $65.96. The stock had a trading volume of 460,223 shares, compared to its average volume of 543,600. The business's 50 day moving average is $51.01 and its 200-day moving average is $45.87. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -15.55 and a beta of 2.09. Rhythm Pharmaceuticals has a one year low of $27.12 and a one year high of $68.58.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 4,688 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $65.00, for a total value of $304,720.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 3,200 shares of Rhythm Pharmaceuticals stock in a transaction on Monday, August 26th. The shares were sold at an average price of $50.01, for a total transaction of $160,032.00. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company's stock, valued at $675,135. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Pamela J. Cramer sold 4,688 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $65.00, for a total transaction of $304,720.00. Following the sale, the insider now owns 13,500 shares of the company's stock, valued at approximately $877,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,539 shares of company stock valued at $3,417,545. Corporate insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC increased its position in Rhythm Pharmaceuticals by 62.6% during the 2nd quarter. CWM LLC now owns 657 shares of the company's stock worth $27,000 after buying an additional 253 shares during the period. ORG Partners LLC bought a new stake in Rhythm Pharmaceuticals in the 2nd quarter valued at about $51,000. ORG Wealth Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals during the 3rd quarter worth approximately $63,000. Quest Partners LLC raised its position in shares of Rhythm Pharmaceuticals by 513.3% in the second quarter. Quest Partners LLC now owns 1,662 shares of the company's stock valued at $68,000 after buying an additional 1,391 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 buying 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.