Brokerages Set Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Price Target at $68.27

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has received a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $69.31.

RYTM has been the topic of a number of research reports. JMP Securities reissued a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. HC Wainwright increased their price objective on Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Needham & Company LLC reissued a “buy” rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a report on Thursday, February 27th. Oppenheimer initiated coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective on the stock. Finally, Morgan Stanley reissued an “overweight” rating and issued a $72.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Jennifer Kayden Lee sold 1,815 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $56.39, for a total value of $102,347.85. Following the sale, the executive vice president now directly owns 3,598 shares of the company’s stock, valued at approximately $202,891.22. This trade represents a 33.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the completion of the transaction, the chief accounting officer now owns 2,070 shares in the company, valued at approximately $118,445.40. This trade represents a 23.48 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,787 shares of company stock valued at $1,901,443. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. SRS Capital Advisors Inc. lifted its position in shares of Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after acquiring an additional 400 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new position in Rhythm Pharmaceuticals during the fourth quarter worth approximately $37,000. R Squared Ltd purchased a new position in Rhythm Pharmaceuticals during the fourth quarter worth approximately $44,000. Finally, State of Wyoming purchased a new position in Rhythm Pharmaceuticals during the fourth quarter worth approximately $61,000.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock opened at $48.56 on Tuesday. The stock has a 50-day moving average of $56.53 and a two-hundred day moving average of $54.61. Rhythm Pharmaceuticals has a one year low of $35.17 and a one year high of $68.58. The stock has a market cap of $3.07 billion, a PE ratio of -11.21 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The business had revenue of $41.83 million during the quarter, compared to analysts’ expectations of $38.48 million. As a group, sell-side analysts predict that Rhythm Pharmaceuticals will post -4.32 EPS for the current fiscal year.

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.