Rhythm Pharmaceuticals (NASDAQ:RYTM) Research Coverage Started at HC Wainwright

HC Wainwright assumed coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a research report released on Wednesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $64.00 price objective on the stock. HC Wainwright also issued estimates for Rhythm Pharmaceuticals’ Q3 2024 earnings at ($0.73) EPS, 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.

Other equities analysts also recently issued research reports about the stock. JMP Securities initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They set an outperform rating and a $64.00 target price for the company. Needham & Company LLC reaffirmed a buy rating and set a $55.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $57.88.

Rhythm Pharmaceuticals Stock Down 3.2 %

RYTM opened at $52.80 on Wednesday. The stock has a market cap of $3.23 billion, a PE ratio of -11.40 and a beta of 2.07. The business has a 50 day moving average of $48.13 and a 200-day moving average of $43.17. Rhythm Pharmaceuticals has a 52 week low of $20.97 and a 52 week high of $55.64.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.16. The firm had revenue of $29.08 million for the quarter, compared to analysts’ expectations of $28.79 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The company’s quarterly revenue was up 51.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.82) EPS. Equities analysts anticipate that Rhythm Pharmaceuticals will post -4.44 EPS for the current year.

Insider Activity at Rhythm Pharmaceuticals

In other news, Director Jennifer L. Good sold 31,751 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $157,200. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 1,395 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $49.06, for a total value of $68,438.70. Following the completion of the sale, the insider now owns 31,735 shares of the company’s stock, valued at approximately $1,556,919.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jennifer L. Good sold 31,751 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the sale, the director now owns 3,000 shares of the company’s stock, valued at $157,200. The disclosure for this sale can be found here. Insiders sold 127,033 shares of company stock valued at $6,214,392 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Rhythm Pharmaceuticals

Several large investors have recently modified their holdings of the company. CWM LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after buying an additional 253 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the 2nd quarter worth $51,000. Quest Partners LLC raised its holdings in Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after purchasing an additional 1,391 shares during the period. Quarry LP purchased a new position in Rhythm Pharmaceuticals during the fourth quarter valued at $69,000. Finally, ZRC Wealth Management LLC increased its position in Rhythm Pharmaceuticals by 392.8% in the first quarter. ZRC Wealth Management LLC now owns 1,971 shares of the company’s stock worth $85,000 after buying an additional 1,571 shares in the last quarter.

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.