Rhythm Pharmaceuticals (NASDAQ:RYTM) Price Target Raised to $143.00

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price objective increased by equities researchers at Citigroup from $142.00 to $143.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 31.16% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wells Fargo & Company increased their price target on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Stifel Nicolaus set a $133.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, June 15th. Royal Bank Of Canada boosted their target price on shares of Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Friday, July 17th. Fifteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.38.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock traded up $3.25 during mid-day trading on Wednesday, reaching $109.03. 603,192 shares of the company were exchanged, compared to its average volume of 792,156. The business has a fifty day moving average of $101.19 and a 200 day moving average of $95.82. The firm has a market cap of $7.47 billion, a P/E ratio of -34.78 and a beta of 1.92. Rhythm Pharmaceuticals has a 12-month low of $74.50 and a 12-month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The business had revenue of $71.25 million for the quarter, compared to the consensus estimate of $67.66 million. During the same period last year, the business posted ($0.75) EPS. The business’s revenue was up 46.9% compared to the same quarter last year. Sell-side analysts predict that Rhythm Pharmaceuticals will post -3.08 EPS for the current year.

Insider Transactions at Rhythm Pharmaceuticals

In other news, Director Lynn A. Tetrault sold 37,000 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $100.32, for a total value of $3,711,840.00. Following the sale, the director owned 7,000 shares in the company, valued at $702,240. This trade represents a 84.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Walleye Capital LLC acquired a new position in shares of Rhythm Pharmaceuticals during the second quarter valued at approximately $666,000. E. Ohman J or Asset Management AB boosted its stake in shares of Rhythm Pharmaceuticals by 25.3% in the second quarter. E. Ohman J or Asset Management AB now owns 5,523 shares of the company’s stock worth $613,000 after acquiring an additional 1,114 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Rhythm Pharmaceuticals by 8.0% during the second quarter. Handelsbanken Fonder AB now owns 18,921 shares of the company’s stock worth $2,101,000 after purchasing an additional 1,400 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Rhythm Pharmaceuticals during the second quarter worth approximately $20,706,000. Finally, GAMMA Investing LLC raised its stake in Rhythm Pharmaceuticals by 36.3% in the 2nd 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.

More Rhythm Pharmaceuticals News

Here are the key news stories impacting Rhythm Pharmaceuticals this week:

• Positive Sentiment: Analysts raised their targets: Royal Bank of Canada lifted its price target from $141 to $155 and maintained an “outperform” rating. Citizens JMP raised its target from $155 to $160 and reiterated a “market outperform” rating, implying substantial upside from recent trading levels. Benzinga analyst actions Ticker Report analyst actions
• Positive Sentiment: Quarterly results exceeded expectations: Rhythm reported second-quarter revenue of approximately $71.3 million, up 46.9% year over year and ahead of the $67.7 million consensus estimate. The company’s loss of $0.73 per share was narrower than the expected $0.81 loss. The U.S. launch of IMCIVREE for acquired hypothalamic obesity generated more than 400 patient start forms through June 30. Rhythm second-quarter results
• Positive Sentiment: Promising pipeline data strengthened the growth narrative: Experimental weekly injectable RM-718 produced a mean 11.6% reduction in body mass index after 16 weeks in seven patients with acquired hypothalamic obesity. Although preliminary and based on a small sample, the data suggest potential commercial value beyond current IMCIVREE sales. RM-718 clinical data Reuters RM-718 coverage
• Neutral Sentiment: Chief Executive Officer David Meeker and Chief Financial Officer Hunter Smith are scheduled to participate in fireside chats at three upcoming investor conferences, potentially providing additional updates on commercialization and the pipeline. Upcoming investor conferences
• Negative Sentiment: Rhythm remains unprofitable, reporting a substantial quarterly net loss and negative margins. RM-718 results are also preliminary, with only seven patients studied, leaving clinical, regulatory, and execution risks despite the encouraging early signal.

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.