Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives $55.83 Average Price Target from Brokerages

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $55.83.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 7th.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 17,501 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $49.65, for a total value of $868,924.65. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $148,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Lynn A. Tetrault sold 17,501 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $49.65, for a total transaction of $868,924.65. Following the transaction, the director now owns 3,000 shares in the company, valued at $148,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Shulman sold 10,468 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $53.00, for a total transaction of $554,804.00. Following the completion of the transaction, the insider now directly owns 30 shares of the company’s stock, valued at $1,590. The disclosure for this sale can be found here. Insiders sold 95,282 shares of company stock valued at $4,550,639 in the last 90 days. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in Rhythm Pharmaceuticals by 809.2% in the fourth quarter. Victory Capital Management Inc. now owns 182,297 shares of the company’s stock worth $8,380,000 after purchasing an additional 162,247 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Rhythm Pharmaceuticals by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 397,685 shares of the company’s stock valued at $18,282,000 after acquiring an additional 12,937 shares during the period. BNP Paribas Financial Markets boosted its stake in Rhythm Pharmaceuticals by 14.2% during the fourth quarter. BNP Paribas Financial Markets now owns 63,085 shares of the company’s stock worth $2,900,000 after acquiring an additional 7,842 shares in the last quarter. Jump Financial LLC purchased a new stake in Rhythm Pharmaceuticals in the fourth quarter worth about $588,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Rhythm Pharmaceuticals during the fourth quarter valued at approximately $234,000.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock opened at $49.31 on Tuesday. The firm has a market capitalization of $3.01 billion, a PE ratio of -10.56 and a beta of 2.07. Rhythm Pharmaceuticals has a 12 month low of $20.97 and a 12 month high of $53.92. The business’s 50-day moving average price is $47.14 and its 200-day moving average price is $42.78.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The firm had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.79 million. During the same period last year, the firm posted ($0.82) earnings per share. The business’s revenue was up 51.3% compared to the same quarter last year. As a group, analysts predict that Rhythm Pharmaceuticals will post -4.44 earnings per share for the current fiscal year.

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.