According to Zacks, “Rhythm Pharmaceuticals, Inc. is a biopharmaceutical company. It focused on the development and commercialization of peptide therapeutics for the treatment of rare genetic deficiencies which result in life-threatening metabolic disorders. The Company’s product candidate principally consists of setmelanotide, a potent, first-in-class melanocortin-4 receptor or MC4R, agonist for the treatment of rare genetic disorders of obesity. Rhythm Pharmaceuticals, Inc. is based in Boston, MA. “
Other equities analysts also recently issued reports about the company. Cowen reaffirmed a “buy” rating and set a $40.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday, September 25th. BidaskClub upgraded Rhythm Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 22nd. Finally, LADENBURG THALM/SH SH reissued a “buy” rating and issued a $43.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Rhythm Pharmaceuticals has an average rating of “Buy” and a consensus price target of $38.80.
Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Friday, November 1st. The company reported ($1.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.06) by $0.02. As a group, equities research analysts anticipate that Rhythm Pharmaceuticals will post -4 earnings per share for the current year.
In other Rhythm Pharmaceuticals news, Director Todd Foley sold 25,366 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $22.03, for a total transaction of $558,812.98. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 444,075 shares of company stock valued at $9,935,520 over the last quarter. 4.45% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Rhythm Pharmaceuticals in the third quarter valued at about $1,547,000. DekaBank Deutsche Girozentrale purchased a new position in Rhythm Pharmaceuticals during the 2nd quarter worth approximately $564,000. Susquehanna International Group LLP purchased a new position in Rhythm Pharmaceuticals during the 2nd quarter worth approximately $328,000. Rice Hall James & Associates LLC raised its position in Rhythm Pharmaceuticals by 172.5% during the 2nd quarter. Rice Hall James & Associates LLC now owns 63,217 shares of the company’s stock worth $1,391,000 after buying an additional 40,015 shares during the last quarter. Finally, Fosun International Ltd lifted its stake in Rhythm Pharmaceuticals by 37.0% during the 2nd quarter. Fosun International Ltd now owns 40,720 shares of the company’s stock valued at $883,000 after acquiring an additional 11,000 shares during the period. 78.13% of the stock is owned by institutional investors.
About Rhythm Pharmaceuticals
Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic disorders that result in life-threatening metabolic disorders. The company's lead product candidate is setmelanotide, a melanocortin-4 receptor agonist peptide, which is in Phase III clinical trials to treat pro-opiomelanocortin (POMC) and leptin receptor deficiency obesity, and Bardet-Biedl and Alström syndrome; and is in Phase II clinical trials for treating POMC heterozygous deficiency obesity and POMC epigenetic disorders.
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