Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its target price hoisted by research analysts at Citizens Jmp from $155.00 to $160.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s target price would suggest a potential upside of 47.56% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada increased their target price on Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Canaccord Genuity Group set a $154.00 price objective on Rhythm Pharmaceuticals in a research note on Wednesday. JPMorgan Chase & Co. began coverage on Rhythm Pharmaceuticals in a report on Monday, July 27th. They set an “overweight” rating and a $145.00 price objective for the company. Citigroup restated a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday. Finally, National Bank Financial set a $160.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.75.

Rhythm Pharmaceuticals Stock Up 2.5%

RYTM traded up $2.65 during trading on Wednesday, reaching $108.43. 322,055 shares of the company’s stock were exchanged, compared to its average volume of 790,087. The company has a market capitalization of $7.43 billion, a P/E ratio of -34.64 and a beta of 1.92. The business has a 50 day moving average price of $101.19 and a 200 day moving average price of $95.82. Rhythm Pharmaceuticals has a fifty-two week low of $74.50 and a fifty-two week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.08. The company had revenue of $71.25 million during the quarter, compared to the consensus estimate of $67.66 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The firm’s revenue for the quarter was up 46.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.75) EPS. As a group, research analysts forecast that Rhythm Pharmaceuticals will post -3.08 EPS for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, Director Lynn A. Tetrault sold 37,000 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $100.32, for a total value of $3,711,840.00. Following the completion of the sale, the director directly owned 7,000 shares in the company, valued at approximately $702,240. This trade represents a 84.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in RYTM. EverSource Wealth Advisors LLC raised its stake in shares of Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Rhythm Pharmaceuticals by 73.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 145 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Rhythm Pharmaceuticals by 36.3% during the second quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Rhythm Pharmaceuticals by 39.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after purchasing an additional 113 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Rhythm Pharmaceuticals by 328.9% in the fourth quarter. Covestor Ltd now owns 579 shares of the company’s stock valued at $62,000 after purchasing an additional 444 shares in the last quarter.

About Rhythm Pharmaceuticals

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.