Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $62.30.

A number of equities analysts have weighed in on the company. Guggenheim initiated coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 price target on the stock. JMP Securities started coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target on the stock. Bank of America upped their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th. TD Cowen lifted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, HC Wainwright increased their price target on shares of Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Insider Buying and Selling

In related news, insider Joseph Shulman sold 13,281 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $66.44, for a total transaction of $882,389.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jennifer Kayden Lee sold 66,861 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the completion of the transaction, the executive vice president now directly owns 972 shares in the company, valued at approximately $64,472.76. This represents a 98.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 145,681 shares of company stock valued at $8,734,825 over the last 90 days. 5.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RYTM. CWM LLC lifted its stake in Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares during the last quarter. ORG Partners LLC acquired a new stake in Rhythm Pharmaceuticals in the second quarter valued at about $51,000. ORG Wealth Partners LLC bought a new position in Rhythm Pharmaceuticals in the third quarter valued at about $63,000. Quest Partners LLC raised its stake in Rhythm Pharmaceuticals by 513.3% during the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after acquiring an additional 1,391 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after acquiring an additional 391 shares during the last quarter.

Rhythm Pharmaceuticals Trading Up 1.5 %

NASDAQ RYTM opened at $59.94 on Friday. The company has a market cap of $3.68 billion, a PE ratio of -13.84 and a beta of 2.09. Rhythm Pharmaceuticals has a 12 month low of $31.52 and a 12 month high of $68.58. The stock has a 50 day moving average of $53.35 and a 200-day moving average of $47.16.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. The company had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company’s quarterly revenue was up 47.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.76) EPS. As a group, sell-side analysts predict that Rhythm Pharmaceuticals will post -4.36 EPS 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.