Research Analysts Offer Predictions for Rhythm Pharmaceuticals, Inc.’s Q3 2024 Earnings (NASDAQ:RYTM)

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) – Equities research analysts at HC Wainwright issued their Q3 2024 earnings per share (EPS) estimates for shares of Rhythm Pharmaceuticals in a research report issued on Wednesday, September 18th. HC Wainwright analyst R. Selvaraju forecasts that the company will post earnings per share of ($0.73) for the quarter. HC Wainwright has a “Buy” rating and a $64.00 price target on the stock. The consensus estimate for Rhythm Pharmaceuticals’ current full-year earnings is ($4.44) per share. HC Wainwright also issued estimates for Rhythm Pharmaceuticals’ Q4 2024 earnings at ($0.72) EPS, FY2024 earnings at ($4.33) EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.59) EPS, Q3 2025 earnings at ($0.55) EPS, Q4 2025 earnings at ($0.51) EPS and FY2025 earnings at ($2.26) EPS.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.16. The company had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.79 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The firm’s revenue was up 51.3% compared to the same quarter last year. During the same period last year, the company earned ($0.82) earnings per share.

Other analysts also recently issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. JMP Securities assumed coverage on Rhythm Pharmaceuticals in a research report on Tuesday. They set an “outperform” rating and a $64.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.88.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM opened at $54.55 on Friday. The company’s 50-day moving average price is $48.08 and its two-hundred day moving average price is $43.08. Rhythm Pharmaceuticals has a one year low of $20.97 and a one year high of $55.64.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently made changes to their positions in RYTM. Charles Schwab Investment Management Inc. boosted its stake in Rhythm Pharmaceuticals by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 397,685 shares of the company’s stock valued at $18,282,000 after purchasing an additional 12,937 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Rhythm Pharmaceuticals by 14.2% in the fourth quarter. BNP Paribas Financial Markets now owns 63,085 shares of the company’s stock valued at $2,900,000 after acquiring an additional 7,842 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter valued at about $234,000. Artisan Partners Limited Partnership bought a new position in Rhythm Pharmaceuticals during the fourth quarter worth about $12,477,000. Finally, TD Asset Management Inc bought a new position in Rhythm Pharmaceuticals during the fourth quarter worth about $1,738,000.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, Director Jennifer L. Good sold 31,751 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total value of $1,663,752.40. Following the sale, the director now owns 3,000 shares in the company, valued at $157,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Rhythm Pharmaceuticals news, Director Jennifer L. Good sold 31,751 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total value of $1,663,752.40. Following the transaction, the director now directly owns 3,000 shares in the company, valued at $157,200. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph Shulman sold 10,468 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $53.00, for a total transaction of $554,804.00. Following the completion of the transaction, the insider now directly owns 30 shares in the company, valued at $1,590. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,033 shares of company stock worth $6,214,392. Company insiders own 5.60% of the company’s stock.

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.