Hennion & Walsh Asset Management Inc. Grows Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Hennion & Walsh Asset Management Inc. increased its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 30.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,967 shares of the company’s stock after buying an additional 20,259 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Rhythm Pharmaceuticals were worth $3,768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RYTM. Vanguard Group Inc. boosted its holdings in Rhythm Pharmaceuticals by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 3,226,938 shares of the company’s stock worth $148,342,000 after acquiring an additional 212,370 shares in the last quarter. Polar Capital Holdings Plc raised its holdings in Rhythm Pharmaceuticals by 11.1% in the 3rd quarter. Polar Capital Holdings Plc now owns 2,500,000 shares of the company’s stock worth $57,312,000 after acquiring an additional 250,000 shares during the last quarter. Perceptive Advisors LLC boosted its stake in Rhythm Pharmaceuticals by 465.6% during the 4th quarter. Perceptive Advisors LLC now owns 2,154,110 shares of the company’s stock valued at $99,024,000 after purchasing an additional 1,773,282 shares during the last quarter. FMR LLC increased its holdings in shares of Rhythm Pharmaceuticals by 23.8% in the 3rd quarter. FMR LLC now owns 868,474 shares of the company’s stock worth $19,910,000 after purchasing an additional 166,940 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Rhythm Pharmaceuticals by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 397,685 shares of the company’s stock worth $18,282,000 after purchasing an additional 12,937 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Needham & Company LLC dropped their price objective on Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Wells Fargo & Company decreased their price objective on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Canaccord Genuity Group dropped their target price on shares of Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Bank of America lowered shares of Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the company from $49.00 to $42.00 in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

Rhythm Pharmaceuticals Trading Up 2.3 %

Shares of Rhythm Pharmaceuticals stock opened at $41.06 on Friday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $15.50 and a 1-year high of $52.57. The company’s fifty day simple moving average is $39.72 and its 200-day simple moving average is $42.22.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($2.35) EPS for the quarter, missing analysts’ consensus estimates of ($2.34) by ($0.01). Rhythm Pharmaceuticals had a negative return on equity of 179.26% and a negative net margin of 297.91%. The company had revenue of $26.00 million during the quarter, compared to analysts’ expectations of $26.90 million. During the same quarter in the previous year, the company earned ($0.92) EPS. The business’s quarterly revenue was up 126.1% compared to the same quarter last year. As a group, research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 3,984 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $38.47, for a total transaction of $153,264.48. Following the completion of the transaction, the insider now owns 30 shares of the company’s stock, valued at approximately $1,154.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Rhythm Pharmaceuticals 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.