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

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has been given a consensus recommendation of “Moderate Buy” by the eighteen brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $131.50.

A number of research analysts have issued reports on RYTM shares. UBS Group reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 17th. Wells Fargo & Company upped their price objective on shares of Rhythm Pharmaceuticals from $129.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Zacks Research upgraded shares of Rhythm Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Wall Street Zen downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, The Goldman Sachs Group increased their price objective on shares of Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the company a “buy” rating in a report on Friday, December 12th.

Rhythm Pharmaceuticals Trading Down 3.4%

Shares of NASDAQ RYTM opened at $96.35 on Tuesday. The stock has a 50 day simple moving average of $105.09 and a 200-day simple moving average of $103.52. The company has a market cap of $6.43 billion, a PE ratio of -31.08 and a beta of 2.00. Rhythm Pharmaceuticals has a 12-month low of $45.90 and a 12-month high of $122.20.

Insiders Place Their Bets

In related news, CFO Hunter C. Smith sold 4,385 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $101.26, for a total transaction of $444,025.10. Following the completion of the transaction, the chief financial officer owned 110,512 shares of the company’s stock, valued at $11,190,445.12. This trade represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Pamela J. Cramer sold 3,350 shares of Rhythm Pharmaceuticals stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $111.00, for a total value of $371,850.00. Following the transaction, the insider directly owned 20,814 shares in the company, valued at approximately $2,310,354. The trade was a 13.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 25,003 shares of company stock valued at $2,589,015. 6.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several large investors have recently made changes to their positions in RYTM. EverSource Wealth Advisors LLC raised its holdings in shares of Rhythm Pharmaceuticals by 303.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Rhythm Pharmaceuticals by 97.2% in the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after buying an additional 141 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Rhythm Pharmaceuticals by 1,110.3% in the third quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock valued at $35,000 after buying an additional 322 shares in the last quarter. Optiver Holding B.V. lifted its position in shares of Rhythm Pharmaceuticals by 65.2% during the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Rhythm Pharmaceuticals by 73.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 145 shares in the last quarter.

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.