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

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $66.90.

A number of equities analysts have commented on the company. Canaccord Genuity Group restated a “buy” rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Bank of America boosted their target price on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. HC Wainwright reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday. Oppenheimer started coverage on Rhythm Pharmaceuticals in a research report on Friday. They set an “outperform” rating and a $76.00 target price for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 13,281 shares of the stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pamela J. Cramer sold 4,688 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $65.00, for a total value of $304,720.00. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $877,500. This represents a 25.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,830 shares of company stock valued at $5,622,000. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of RYTM. FMR LLC grew its stake in Rhythm Pharmaceuticals by 79.7% during the 3rd quarter. FMR LLC now owns 50,295 shares of the company’s stock worth $2,635,000 after buying an additional 22,306 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 241.9% during the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock worth $1,707,000 after acquiring an additional 23,054 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Rhythm Pharmaceuticals by 307.1% in the third quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock valued at $756,000 after buying an additional 10,882 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in Rhythm Pharmaceuticals by 8.3% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock valued at $97,366,000 after purchasing an additional 181,125 shares in the last quarter. Finally, Creative Planning purchased a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth approximately $450,000.

Rhythm Pharmaceuticals Trading Down 0.1 %

Shares of RYTM opened at $56.04 on Thursday. The stock has a market cap of $3.44 billion, a P/E ratio of -12.94 and a beta of 2.14. The stock’s 50-day moving average price is $56.51 and its two-hundred day moving average price 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 announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) 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 business had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. During the same quarter in the previous year, the firm posted ($0.76) earnings per share. The firm’s revenue for the quarter was up 47.6% on a year-over-year basis. As a group, equities analysts forecast that Rhythm Pharmaceuticals will post -4.34 EPS for the current 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.