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

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has been given an average rating of “Moderate Buy” by the nineteen research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, fifteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $133.1875.

A number of research firms have weighed in on RYTM. Guggenheim increased their price target on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Jefferies Financial Group restated a “buy” rating and set a $125.00 price objective on shares of Rhythm Pharmaceuticals in a report on Tuesday, March 3rd. Needham & Company LLC cut their target price on Rhythm Pharmaceuticals from $148.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 target price on shares of Rhythm Pharmaceuticals in a report on Thursday, December 11th. Finally, Zacks Research raised Rhythm Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th.

Insider Activity

In other news, CAO Christopher Paul German sold 5,614 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $89.56, for a total value of $502,789.84. Following the transaction, the chief accounting officer directly owned 160 shares of the company’s stock, valued at $14,329.60. The trade was a 97.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Hunter C. Smith sold 4,385 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $101.26, for a total value of $444,025.10. Following the sale, the chief financial officer owned 110,512 shares of the company’s stock, valued at $11,190,445.12. The trade was a 3.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 27,267 shares of company stock worth $2,719,955 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several institutional investors have recently bought and sold shares of RYTM. Xponance LLC raised its stake in shares of Rhythm Pharmaceuticals by 2.6% in the 4th quarter. Xponance LLC now owns 4,269 shares of the company’s stock valued at $457,000 after acquiring an additional 107 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rhythm Pharmaceuticals by 4.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,568 shares of the company’s stock valued at $259,000 after acquiring an additional 110 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Rhythm Pharmaceuticals by 39.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after purchasing an additional 113 shares during the period. Captrust Financial Advisors boosted its position in Rhythm Pharmaceuticals by 0.7% during the 2nd quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock worth $1,104,000 after purchasing an additional 114 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Rhythm Pharmaceuticals by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after purchasing an additional 118 shares in the last quarter.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock opened at $87.38 on Friday. The firm’s 50-day simple moving average is $100.23 and its 200-day simple moving average is $102.99. Rhythm Pharmaceuticals has a 1-year low of $45.90 and a 1-year high of $122.20. The firm has a market cap of $5.97 billion, a P/E ratio of -28.10 and a beta of 2.06.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.06. Rhythm Pharmaceuticals had a negative net margin of 103.57% and a negative return on equity of 266.56%. The firm had revenue of $57.25 million during the quarter, compared to the consensus estimate of $56.16 million. During the same period in the previous year, the firm earned ($0.72) earnings per share. Rhythm Pharmaceuticals’s revenue was up 36.9% compared to the same quarter last year. Analysts expect that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical?stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin?4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.