Rhythm Pharmaceuticals (NASDAQ:RYTM) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a research report released on Monday, Marketbeat.com reports. The brokerage issued an overweight rating and a $145.00 price target on the stock.

A number of other equities analysts have also weighed in on the company. Royal Bank Of Canada boosted their price objective on Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Wells Fargo & Company boosted their price target on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Friday, July 17th. Finally, TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 17th. Fifteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.73.

Rhythm Pharmaceuticals Trading Down 1.4%

RYTM stock opened at $106.53 on Monday. The firm has a 50-day moving average of $100.03 and a two-hundred day moving average of $95.91. Rhythm Pharmaceuticals has a 12 month low of $74.50 and a 12 month high of $122.20. The company has a market cap of $7.30 billion, a price-to-earnings ratio of -34.04 and a beta of 1.88.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.03. The business had revenue of $60.11 million for the quarter, compared to analysts’ expectations of $55.78 million. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The business’s revenue for the quarter was up 83.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.81) EPS. As a group, equities analysts forecast that Rhythm Pharmaceuticals will post -3.1 earnings per share for the current year.

Insider Activity at Rhythm Pharmaceuticals

In other news, Director Lynn A. Tetrault sold 37,000 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the completion of the transaction, the director directly owned 7,000 shares in the company, valued at approximately $702,240. This represents a 84.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in shares of Rhythm Pharmaceuticals by 303.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 200 shares during the period. SBI Securities Co. Ltd. lifted its stake in 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. GAMMA Investing LLC lifted its stake in Rhythm Pharmaceuticals by 48.6% during the 4th 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. Smartleaf Asset Management LLC boosted its holdings in Rhythm Pharmaceuticals by 39.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after acquiring an additional 113 shares during the period. Finally, Covestor Ltd boosted its holdings in Rhythm Pharmaceuticals by 328.9% during the 4th quarter. Covestor Ltd now owns 579 shares of the company’s stock valued at $62,000 after acquiring an additional 444 shares during the period.

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.