Rhythm Pharmaceuticals (NASDAQ:RYTM) Posts Quarterly Earnings Results, Misses Expectations By $1.46 EPS

Rhythm Pharmaceuticals (NASDAQ:RYTM) released its quarterly earnings data on Sunday. The company reported ($1.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($1.46), Fidelity Earnings reports.

RYTM traded down $0.34 on Tuesday, hitting $21.61. The company had a trading volume of 13,238 shares, compared to its average volume of 456,222. Rhythm Pharmaceuticals has a 52-week low of $17.27 and a 52-week high of $43.26. The stock has a fifty day simple moving average of $22.03 and a 200-day simple moving average of $26.59. The firm has a market capitalization of $1.08 billion, a P/E ratio of -7.22 and a beta of 1.57.

In other Rhythm Pharmaceuticals news, CEO David P. Meeker bought 10,000 shares of the firm’s stock in a transaction on Tuesday, March 30th. The stock was acquired at an average price of $20.17 per share, with a total value of $201,700.00. Following the completion of the purchase, the chief executive officer now owns 111,335 shares of the company’s stock, valued at $2,245,626.95. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 9.49% of the stock is currently owned by company insiders.

RYTM has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, March 5th. Stifel Nicolaus lifted their price objective on shares of Rhythm Pharmaceuticals from $36.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, January 27th. Canaccord Genuity lifted their price objective on shares of Rhythm Pharmaceuticals from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, January 27th. LADENBURG THALM/SH SH lifted their price objective on shares of Rhythm Pharmaceuticals from $43.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 27th. Finally, Morgan Stanley boosted their price target on shares of Rhythm Pharmaceuticals from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Rhythm Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $46.86.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic diseases of obesity. The company's lead product candidate is IMCIVREE, a potent 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.

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Earnings History for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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