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

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $68.09.

A number of research analysts have recently commented on RYTM shares. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. TD Cowen upped their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Bank of America boosted their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. JMP Securities restated a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Finally, Guggenheim started 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.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CEO David P. Meeker sold 4,278 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $254,241.54. Following the sale, the chief executive officer now directly owns 189,927 shares in the company, valued at $11,287,361.61. This represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph Shulman sold 13,281 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $66.44, for a total value of $882,389.64. The disclosure for this sale can be found here. Insiders have sold 88,826 shares of company stock worth $5,833,370 over the last three months. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its stake in Rhythm Pharmaceuticals by 79.7% in the third quarter. FMR LLC now owns 50,295 shares of the company’s stock worth $2,635,000 after purchasing an additional 22,306 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Rhythm Pharmaceuticals by 241.9% in the third quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock worth $1,707,000 after purchasing an additional 23,054 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Rhythm Pharmaceuticals by 307.1% in the third quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock worth $756,000 after purchasing an additional 10,882 shares in the last quarter. Creative Planning acquired a new position in shares of Rhythm Pharmaceuticals during the third quarter valued at $450,000. Finally, Intech Investment Management LLC acquired a new position in shares of Rhythm Pharmaceuticals during the third quarter valued at $649,000.

Rhythm Pharmaceuticals Stock Down 1.7 %

Shares of RYTM stock opened at $60.01 on Friday. Rhythm Pharmaceuticals has a 12 month low of $35.17 and a 12 month high of $68.58. The firm has a market cap of $3.69 billion, a PE ratio of -13.86 and a beta of 2.14. The stock has a 50 day moving average of $57.37 and a 200-day moving average of $53.19.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results 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 return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $33.20 million during the quarter, compared to analyst estimates of $32.52 million. During the same period in the previous year, the company earned ($0.76) earnings per share. The company’s quarterly revenue was up 47.6% compared to the same quarter last year. As a group, equities analysts predict that Rhythm Pharmaceuticals will post -4.33 EPS for the current fiscal 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.