Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Jennifer L. Good Sells 31,751 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Jennifer L. Good sold 31,751 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total value of $1,663,752.40. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $157,200. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Rhythm Pharmaceuticals Trading Up 1.7 %

RYTM stock traded up $0.91 during mid-day trading on Thursday, reaching $54.55. The company’s stock had a trading volume of 758,614 shares, compared to its average volume of 562,853. The company’s 50 day moving average is $47.92 and its two-hundred day moving average is $43.00. The stock has a market cap of $3.33 billion, a PE ratio of -11.78 and a beta of 2.07. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $20.97 and a fifty-two week high of $55.64.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC lifted its holdings in Rhythm Pharmaceuticals by 5.4% in the second quarter. Perceptive Advisors LLC now owns 3,446,579 shares of the company’s stock valued at $141,517,000 after acquiring an additional 178,000 shares during the last quarter. Algert Global LLC grew its holdings in shares of Rhythm Pharmaceuticals by 50.8% during the 2nd quarter. Algert Global LLC now owns 104,132 shares of the company’s stock worth $4,276,000 after purchasing an additional 35,084 shares during the period. Frazier Life Sciences Management L.P. increased its position in shares of Rhythm Pharmaceuticals by 8.3% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock worth $97,366,000 after purchasing an additional 181,125 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in Rhythm Pharmaceuticals by 38.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock valued at $48,548,000 after buying an additional 326,865 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Rhythm Pharmaceuticals by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,291 shares of the company’s stock valued at $2,024,000 after buying an additional 1,667 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. JMP Securities started coverage on shares of Rhythm Pharmaceuticals in a research report on Tuesday. They set an “outperform” rating and a $64.00 price target for the company. Finally, HC Wainwright started coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday. They issued a “buy” rating and a $64.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $57.88.

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.