Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($2.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.34) by ($0.01), Briefing.com reports. The company had revenue of $26.00 million for the quarter, compared to the consensus estimate of $26.90 million. Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. Rhythm Pharmaceuticals’s revenue for the quarter was up 126.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.92) EPS.
Rhythm Pharmaceuticals Trading Down 10.3 %
Shares of Rhythm Pharmaceuticals stock opened at $39.35 on Wednesday. The firm’s 50 day simple moving average is $40.79 and its two-hundred day simple moving average is $39.86. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -12.30 and a beta of 1.94. Rhythm Pharmaceuticals has a 12-month low of $15.50 and a 12-month high of $52.57.
Insider Transactions at Rhythm Pharmaceuticals
In related news, insider Joseph Shulman sold 71,774 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $50.38, for a total value of $3,615,974.12. Following the transaction, the insider now directly owns 2,686 shares of the company’s stock, valued at approximately $135,320.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 71,774 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $50.38, for a total transaction of $3,615,974.12. Following the completion of the transaction, the insider now directly owns 2,686 shares of the company’s stock, valued at approximately $135,320.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Hunter C. Smith sold 1,209 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $51.38, for a total transaction of $62,118.42. Following the completion of the sale, the chief financial officer now directly owns 80,413 shares in the company, valued at $4,131,619.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,069 shares of company stock worth $7,626,355. Company insiders own 4.70% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Analysis on Rhythm Pharmaceuticals
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.
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