JMP Securities Reaffirms Market Outperform Rating for Rhythm Pharmaceuticals (NASDAQ:RYTM)

Rhythm Pharmaceuticals (NASDAQ:RYTM)‘s stock had its “market outperform” rating restated by JMP Securities in a report issued on Monday,Benzinga reports. They presently have a $75.00 price objective on the stock. JMP Securities’ price target suggests a potential upside of 34.29% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Bank of America upped their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Oppenheimer assumed coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday. Needham & Company LLC upped their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $66.90.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock opened at $55.85 on Monday. The company has a market cap of $3.43 billion, a P/E ratio of -12.90 and a beta of 2.14. The stock’s 50-day moving average is $56.51 and its 200 day moving average is $50.25. Rhythm Pharmaceuticals has a 1-year low of $35.17 and a 1-year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data 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. The firm had revenue of $33.20 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.76) EPS. On average, analysts anticipate that Rhythm Pharmaceuticals will post -4.34 EPS for the current year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 13,281 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $66.44, for a total transaction of $882,389.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pamela J. Cramer sold 4,688 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $65.00, for a total value of $304,720.00. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $877,500. This trade represents a 25.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,830 shares of company stock worth $5,622,000 over the last quarter. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. ORG Wealth Partners LLC purchased a new stake in Rhythm Pharmaceuticals in the 3rd quarter worth approximately $63,000. Quest Partners LLC lifted its stake in shares of Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after purchasing an additional 1,391 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after purchasing an additional 391 shares during the period. Principal Financial Group Inc. boosted its holdings in Rhythm Pharmaceuticals by 32.8% during the second quarter. Principal Financial Group Inc. now owns 9,532 shares of the company’s stock worth $391,000 after buying an additional 2,352 shares in the last quarter. Finally, Creative Planning acquired a new stake in Rhythm Pharmaceuticals during the third quarter valued at $450,000.

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.