Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $54.33.

A number of equities analysts recently commented on the company. Canaccord Genuity Group dropped their price target on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday. The Goldman Sachs Group raised their target price on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company decreased their price target on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Bank of America cut shares of Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $49.00 to $42.00 in a research note on Wednesday. Finally, Needham & Company LLC lowered their price target on shares of Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 71,774 shares of the stock in a transaction that occurred 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 owns 2,686 shares of the company’s stock, valued at $135,320.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Yann Mazabraud sold 1,594 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $51.38, for a total value of $81,899.72. Following the completion of the sale, the executive vice president now owns 7,702 shares in the company, valued at approximately $395,728.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph Shulman sold 71,774 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $50.38, for a total transaction of $3,615,974.12. Following the completion of the sale, the insider now directly owns 2,686 shares of the company’s stock, valued at approximately $135,320.68. The disclosure for this sale can be found here. Insiders sold a total of 172,069 shares of company stock valued at $7,626,355 in the last three months. Company insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. AJOVista LLC purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $42,000. Nisa Investment Advisors LLC grew its stake in Rhythm Pharmaceuticals by 91.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company’s stock valued at $58,000 after purchasing an additional 600 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Rhythm Pharmaceuticals by 95.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,458 shares of the company’s stock worth $33,000 after purchasing an additional 713 shares in the last quarter. Quarry LP purchased a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter valued at about $69,000. Finally, ZRC Wealth Management LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 392.8% in the 1st quarter. ZRC Wealth Management LLC now owns 1,971 shares of the company’s stock valued at $85,000 after buying an additional 1,571 shares in the last quarter.

Rhythm Pharmaceuticals Stock Down 3.2 %

NASDAQ:RYTM traded down $1.25 on Wednesday, reaching $38.10. 792,212 shares of the company’s stock traded hands, compared to its average volume of 636,113. The stock has a 50-day simple moving average of $40.79 and a 200-day simple moving average of $39.86. Rhythm Pharmaceuticals has a 12 month low of $15.50 and a 12 month high of $52.57. The firm has a market cap of $2.32 billion, a PE ratio of -11.98 and a beta of 1.94.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.34) by ($0.01). The company had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $26.90 million. Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. The company’s quarterly revenue was up 126.1% compared to the same quarter last year. During the same period last year, the business earned ($0.92) earnings per share. On average, equities analysts anticipate that Rhythm Pharmaceuticals will post -4.02 earnings per share for the current year.

About Rhythm Pharmaceuticals

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.