Rhythm Pharmaceuticals (NASDAQ:RYTM) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a report issued on Monday morning,Benzinga reports. HC Wainwright currently has a $69.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. TD Cowen raised their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Guggenheim began coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a “buy” rating and a $70.00 price objective for the company. JMP Securities began coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price objective for the company. Finally, Needham & Company LLC raised their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.30.

Rhythm Pharmaceuticals Trading Down 0.0 %

RYTM stock opened at $59.92 on Monday. The business’s fifty day moving average price is $53.35 and its 200 day moving average price is $47.28. Rhythm Pharmaceuticals has a 12-month low of $31.52 and a 12-month high of $68.58. The company has a market capitalization of $3.68 billion, a PE ratio of -13.84 and a beta of 2.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. During the same period in the prior year, the firm earned ($0.76) earnings per share. The business’s revenue for the quarter was up 47.6% compared to the same quarter last year. Research analysts predict that Rhythm Pharmaceuticals will post -4.36 EPS for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, Director Jennifer L. Good sold 31,751 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the sale, the director now owns 3,000 shares of the company’s stock, valued at approximately $157,200. This trade represents a 91.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pamela J. Cramer sold 4,099 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $50.03, for a total transaction of $205,072.97. Following the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $675,405. The trade was a 23.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,181 shares of company stock valued at $8,359,750 over the last 90 days. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in Rhythm Pharmaceuticals by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock worth $65,824,000 after purchasing an additional 3,499 shares in the last quarter. Frazier Life Sciences Management L.P. increased its holdings in shares of Rhythm Pharmaceuticals by 1.9% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock valued at $126,624,000 after acquiring an additional 45,648 shares during the period. Barclays PLC increased its holdings in shares of Rhythm Pharmaceuticals by 79.6% in the 3rd quarter. Barclays PLC now owns 106,397 shares of the company’s stock valued at $5,574,000 after acquiring an additional 47,166 shares during the period. Castleark Management LLC increased its holdings in shares of Rhythm Pharmaceuticals by 1.3% in the 3rd quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock valued at $1,009,000 after acquiring an additional 250 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of Rhythm Pharmaceuticals by 0.8% in the 3rd quarter. Janus Henderson Group PLC now owns 598,122 shares of the company’s stock valued at $31,335,000 after acquiring an additional 4,480 shares during the period.

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.