Analysts Set Rhythm Pharmaceuticals Inc (RYTM) PT at $39.00

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Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) has been given a consensus rating of “Buy” by the six brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $39.00.

A number of equities analysts recently commented on the company. Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a research note on Friday, September 14th. They issued a “hold” rating and a $36.00 price target for the company. BidaskClub upgraded Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. Zacks Investment Research downgraded Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, November 15th. ValuEngine upgraded Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 17th. Finally, Morgan Stanley set a $38.00 price target on Rhythm Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, September 7th.

In other Rhythm Pharmaceuticals news, CEO Keith Michael Gottesdiener sold 16,500 shares of the firm’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $30.08, for a total value of $496,320.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Der Ploeg Leonardus H.T. Van sold 38,000 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $30.09, for a total transaction of $1,143,420.00. The disclosure for this sale can be found here. Insiders sold 86,300 shares of company stock valued at $2,587,380 over the last quarter. Insiders own 4.93% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. American International Group Inc. lifted its holdings in Rhythm Pharmaceuticals by 26.5% in the third quarter. American International Group Inc. now owns 10,098 shares of the company’s stock worth $295,000 after acquiring an additional 2,114 shares during the last quarter. Bank of America Corp DE lifted its holdings in Rhythm Pharmaceuticals by 110.5% in the second quarter. Bank of America Corp DE now owns 6,251 shares of the company’s stock worth $195,000 after acquiring an additional 3,282 shares during the last quarter. Alps Advisors Inc. lifted its holdings in Rhythm Pharmaceuticals by 9.2% in the second quarter. Alps Advisors Inc. now owns 39,952 shares of the company’s stock worth $1,249,000 after acquiring an additional 3,359 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Rhythm Pharmaceuticals by 74.0% in the third quarter. Alliancebernstein L.P. now owns 12,700 shares of the company’s stock worth $370,000 after acquiring an additional 5,400 shares during the last quarter. Finally, Credit Suisse AG lifted its holdings in Rhythm Pharmaceuticals by 81.3% in the third quarter. Credit Suisse AG now owns 15,950 shares of the company’s stock worth $466,000 after acquiring an additional 7,154 shares during the last quarter. 90.42% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:RYTM opened at $27.24 on Wednesday. Rhythm Pharmaceuticals has a one year low of $16.80 and a one year high of $37.23.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Friday, November 9th. The company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.06). As a group, equities analysts predict that Rhythm Pharmaceuticals will post -2.08 EPS for the current fiscal year.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of peptide therapeutics for the treatment of rare genetic disorders of obesity in the United States. Its peptide candidates include Setmelanotide, a melanocortin-4 receptor agonist, which is in Phase III clinical trial to treat POMC and leptin receptor deficiency obesity; and Phase II clinical trial for Bardet-Biedl and Alström syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.

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