Rhythm Pharmaceuticals (NASDAQ:RYTM) Given New $65.00 Price Target at TD Cowen

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price target increased by TD Cowen from $55.00 to $65.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, October 25th. JMP Securities started 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. Canaccord Genuity Group upped their price objective on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America lifted their target price 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. Finally, Needham & Company LLC upped their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.30.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock opened at $67.33 on Wednesday. The firm has a 50 day simple moving average of $51.01 and a 200-day simple moving average of $45.83. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of -15.55 and a beta of 2.09. Rhythm Pharmaceuticals has a 1-year low of $26.55 and a 1-year high of $67.61.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 286.94% 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 quarter last year, the firm earned ($0.76) earnings per share. The firm’s quarterly revenue was up 47.6% compared to the same quarter last year. Equities analysts expect that Rhythm Pharmaceuticals will post -4.45 earnings per share for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 4,688 shares of the company’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 in the company, valued at $877,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Pamela J. Cramer sold 4,688 shares of the business’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 completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $877,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jennifer L. Good sold 31,751 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the completion of the sale, the director now directly owns 3,000 shares in the company, valued at approximately $157,200. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,539 shares of company stock worth $3,417,545. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Capstone Investment Advisors LLC acquired a new stake in Rhythm Pharmaceuticals in the first quarter valued at $292,000. Swiss National Bank increased its holdings in shares of Rhythm Pharmaceuticals by 4.0% in the 1st quarter. Swiss National Bank now owns 93,300 shares of the company’s stock valued at $4,043,000 after acquiring an additional 3,600 shares during the last quarter. Sei Investments Co. raised its position in shares of Rhythm Pharmaceuticals by 85.8% during the 1st quarter. Sei Investments Co. now owns 11,470 shares of the company’s stock worth $497,000 after acquiring an additional 5,296 shares in the last quarter. ProShare Advisors LLC lifted its stake in Rhythm Pharmaceuticals by 12.4% during the first quarter. ProShare Advisors LLC now owns 13,808 shares of the company’s stock worth $598,000 after purchasing an additional 1,527 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Rhythm Pharmaceuticals by 2.4% in the first quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company’s stock valued at $143,169,000 after purchasing an additional 77,208 shares in 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.