Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives $55.83 Consensus Price Target from Analysts

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $55.83.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 7th.

Rhythm Pharmaceuticals Stock Down 0.2 %

Shares of RYTM opened at $49.52 on Tuesday. Rhythm Pharmaceuticals has a fifty-two week low of $20.97 and a fifty-two week high of $53.92. The company’s fifty day moving average is $47.57 and its two-hundred day moving average is $42.86. The firm has a market cap of $3.03 billion, a PE ratio of -10.70 and a beta of 2.07.

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

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 10,468 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $53.00, for a total transaction of $554,804.00. Following the transaction, the insider now owns 30 shares in the company, valued at $1,590. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Pamela J. Cramer sold 1,395 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 31,735 shares in the company, valued at $1,556,919.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Shulman sold 10,468 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $53.00, for a total transaction of $554,804.00. Following the sale, the insider now directly owns 30 shares of the company’s stock, valued at $1,590. The disclosure for this sale can be found here. In the last three months, insiders sold 95,282 shares of company stock worth $4,550,639. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of Rhythm Pharmaceuticals by 809.2% in the fourth quarter. Victory Capital Management Inc. now owns 182,297 shares of the company’s stock worth $8,380,000 after acquiring an additional 162,247 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 397,685 shares of the company’s stock valued at $18,282,000 after buying an additional 12,937 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Rhythm Pharmaceuticals by 14.2% during the fourth quarter. BNP Paribas Financial Markets now owns 63,085 shares of the company’s stock worth $2,900,000 after buying an additional 7,842 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth $588,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth $234,000.

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.