Brokerages Set Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Target Price at $60.33

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $60.33.

A number of research analysts have weighed in on RYTM shares. Guggenheim began coverage on Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a “buy” rating and a $70.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, October 25th. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday. JMP Securities started coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target for the company. Finally, Bank of America lifted their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th.

Rhythm Pharmaceuticals Stock Up 2.7 %

RYTM stock opened at $49.01 on Wednesday. Rhythm Pharmaceuticals has a 52 week low of $23.26 and a 52 week high of $55.64. The firm has a 50-day simple moving average of $49.63 and a 200-day simple moving average of $44.95. The stock has a market capitalization of $3.00 billion, a P/E ratio of -11.12 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data 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 return on equity of 221.65% and a negative net margin of 254.88%. The company had revenue of $29.08 million during the quarter, compared to analyst estimates of $28.79 million. During the same period in the previous year, the business earned ($0.82) EPS. Rhythm Pharmaceuticals’s quarterly revenue was up 51.3% on a year-over-year basis. On average, analysts expect that Rhythm Pharmaceuticals will post -4.45 earnings per share for the current year.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 3,200 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $50.01, for a total value of $160,032.00. Following the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $675,135. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Pamela J. Cramer sold 49,006 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $45.15, for a total transaction of $2,212,620.90. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at $609,525. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Pamela J. Cramer sold 3,200 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $50.01, for a total transaction of $160,032.00. Following the completion of the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $675,135. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,857 shares of company stock valued at $5,325,446. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC increased 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 buying an additional 178,000 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company’s stock valued at $143,169,000 after acquiring an additional 77,208 shares during the last quarter. Frazier Life Sciences Management L.P. raised 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 acquiring an additional 181,125 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in Rhythm Pharmaceuticals by 38.2% during the second quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock worth $48,548,000 after purchasing an additional 326,865 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Rhythm Pharmaceuticals by 32.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 967,243 shares of the company’s stock valued at $39,715,000 after purchasing an additional 236,600 shares in 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.