Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Free Report) Director Lynn A. Tetrault sold 4,300 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $50.01, for a total transaction of $215,043.00. Following the completion of the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $150,030. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Rhythm Pharmaceuticals Stock Performance
Shares of NASDAQ:RYTM traded up $0.19 during mid-day trading on Thursday, hitting $46.58. The stock had a trading volume of 26,908 shares, compared to its average volume of 561,756. The company’s 50 day moving average is $45.83 and its 200-day moving average is $42.83. Rhythm Pharmaceuticals, Inc. has a 12-month low of $20.97 and a 12-month high of $53.92. The company has a market cap of $2.84 billion, a PE ratio of -10.02 and a beta of 2.04.
Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.16. The company had revenue of $29.08 million during the quarter, compared to analyst estimates of $28.79 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The company’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.82) earnings per share. On average, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.4 EPS for the current fiscal year.
Hedge Funds Weigh In On Rhythm Pharmaceuticals
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Bank of America cut Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the company from $49.00 to $42.00 in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group dropped their price target on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating on the stock in a report 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.83.
View Our Latest Stock Analysis on RYTM
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.
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