Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have been assigned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $68.09.

Several research firms recently issued reports on RYTM. Bank of America upped their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. TD Cowen increased 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. JMP Securities reaffirmed a “market outperform” rating and set a $75.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Needham & Company LLC increased their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective for the company.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock opened at $54.54 on Monday. The stock has a market cap of $3.35 billion, a PE ratio of -12.60 and a beta of 2.16. The stock has a 50-day moving average of $58.00 and a two-hundred day moving average of $52.26. Rhythm Pharmaceuticals has a one year low of $35.17 and a one year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $33.20 million during the quarter, compared to analyst estimates of $32.52 million. During the same period last year, the firm posted ($0.76) EPS. Rhythm Pharmaceuticals’s revenue was up 47.6% on a year-over-year basis. As a group, sell-side analysts predict that Rhythm Pharmaceuticals will post -4.34 EPS 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 stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $65.00, for a total transaction of $304,720.00. Following the transaction, the insider now owns 13,500 shares in the company, valued at approximately $877,500. This represents a 25.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jennifer Kayden Lee sold 66,861 shares of Rhythm Pharmaceuticals stock in a transaction on Monday, November 11th. The shares were sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the completion of the sale, the executive vice president now directly owns 972 shares in the company, valued at $64,472.76. This represents a 98.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,830 shares of company stock worth $5,622,000. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raleigh Capital Management Inc. purchased a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $28,000. ORG Wealth Partners LLC purchased a new position in Rhythm Pharmaceuticals during the third quarter worth about $63,000. Quest Partners LLC increased its position in shares of Rhythm Pharmaceuticals by 513.3% during the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after acquiring an additional 1,391 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after acquiring an additional 391 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Rhythm Pharmaceuticals by 32.8% in the 2nd quarter. Principal Financial Group Inc. now owns 9,532 shares of the company’s stock worth $391,000 after acquiring an additional 2,352 shares during the last quarter.

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.