Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $68.09.

Several research analysts have recently weighed in on RYTM shares. TD Cowen lifted their price target on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Needham & Company LLC lifted their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Guggenheim initiated coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock opened at $56.17 on Monday. Rhythm Pharmaceuticals has a one year low of $35.17 and a one year high of $68.58. The stock has a fifty day moving average of $58.63 and a 200 day moving average of $51.72. The stock has a market cap of $3.45 billion, a PE ratio of -12.97 and a beta of 2.16.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.07. The firm had revenue of $33.20 million for the quarter, compared to analysts’ expectations of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The business’s quarterly revenue was up 47.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.76) EPS. As a group, sell-side analysts predict that Rhythm Pharmaceuticals will post -4.34 EPS for the current fiscal year.

Insider Activity

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 13,281 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $66.44, for a total value of $882,389.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jennifer Kayden Lee sold 66,861 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $66.33, for a total value of $4,434,890.13. Following the transaction, the executive vice president now owns 972 shares of the company’s stock, valued at $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 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 Investors Weigh In On Rhythm Pharmaceuticals

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

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.