Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its target price raised by analysts at Royal Bank Of Canada from $136.00 to $137.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 42.37% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group dropped their price target on Rhythm Pharmaceuticals from $141.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Wall Street Zen downgraded Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 19th. Citizens Jmp dropped their price target on Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating on the stock in a research report on Tuesday, March 17th. Citigroup dropped their price target on Rhythm Pharmaceuticals from $136.00 to $131.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Finally, HC Wainwright dropped their price target on Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.81.

Rhythm Pharmaceuticals Stock Down 0.4%

RYTM stock opened at $96.23 on Wednesday. The business’s fifty day simple moving average is $87.93 and its two-hundred day simple moving average is $99.24. Rhythm Pharmaceuticals has a twelve month low of $55.31 and a twelve month high of $122.20. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of -30.74 and a beta of 1.94.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The business had revenue of $60.11 million for the quarter, compared to analyst estimates of $55.78 million. During the same quarter last year, the firm posted ($0.81) earnings per share. The business’s revenue was up 83.8% compared to the same quarter last year. Research analysts expect that Rhythm Pharmaceuticals will post -3.05 EPS for the current year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 5,614 shares of the firm’s 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 completion of the sale, the chief accounting officer owned 160 shares of the company’s stock, valued at approximately $14,329.60. This trade represents a 97.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $444,025.10. Following the completion of the sale, the chief financial officer directly owned 110,512 shares of the company’s stock, valued at approximately $11,190,445.12. This represents a 3.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,639 shares of company stock valued at $2,017,217 in the last three months. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in 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 in the last quarter. Smartleaf Asset Management LLC boosted its holdings 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 acquiring an additional 141 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Rhythm Pharmaceuticals by 73.2% in the fourth 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. Farther Finance Advisors LLC boosted its holdings in Rhythm Pharmaceuticals by 1,110.3% in the third quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock worth $35,000 after acquiring an additional 322 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Rhythm Pharmaceuticals by 48.6% in the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after acquiring an additional 118 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.