Canaccord Genuity started coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a report issued on Monday morning, Briefing.com Automated Import reports. The firm issued a buy rating and a $35.00 target price on the stock.
A number of other research analysts have also commented on the stock. LADENBURG THALM/SH SH restated a buy rating and set a $43.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, May 3rd. BidaskClub upgraded shares of DENTSPLY SIRONA from a buy rating to a strong-buy rating in a research report on Thursday, June 13th. Stifel Nicolaus set a $34.00 target price on shares of Rhythm Pharmaceuticals and gave the stock a hold rating in a research report on Thursday, March 28th. Zacks Investment Research upgraded shares of HANNOVER RUECK/S from a sell rating to a hold rating in a research report on Friday, May 17th. Finally, Needham & Company LLC reiterated a buy rating and issued a $42.00 target price on shares of Rhythm Pharmaceuticals in a research report on Sunday, May 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $38.67.
RYTM opened at $20.66 on Monday. The firm’s fifty day moving average price is $23.21. The stock has a market cap of $748.90 million, a price-to-earnings ratio of -8.64 and a beta of 0.79. The company has a debt-to-equity ratio of 0.02, a current ratio of 18.32 and a quick ratio of 18.32. Rhythm Pharmaceuticals has a one year low of $20.52 and a one year high of $34.97.
In related news, insider Der Ploeg Leonardus H.T. Van sold 10,000 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $25.21, for a total value of $252,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.45% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. purchased a new position in Rhythm Pharmaceuticals in the first quarter worth $33,000. Great West Life Assurance Co. Can purchased a new position in Rhythm Pharmaceuticals in the fourth quarter worth $68,000. BNP Paribas Arbitrage SA grew its position in Rhythm Pharmaceuticals by 105,433.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,166 shares of the company’s stock worth $87,000 after acquiring an additional 3,163 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in Rhythm Pharmaceuticals by 424.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,020 shares of the company’s stock worth $135,000 after acquiring an additional 4,062 shares in the last quarter. Finally, Tiff Advisory Services Inc. purchased a new position in Rhythm Pharmaceuticals in the first quarter worth $217,000. Institutional investors own 89.63% of the company’s stock.
About Rhythm Pharmaceuticals
Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic disorders that result in life-threatening metabolic disorders. The company's lead product candidate is setmelanotide, a melanocortin-4 receptor agonist peptide, which is in Phase III clinical trials to treat pro-opiomelanocortin (POMC) and leptin receptor deficiency obesity, and Bardet-Biedl and Alström syndrome; and is in Phase II clinical trials for treating POMC heterozygous deficiency obesity and POMC epigenetic disorders.
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