Rhythm Pharmaceuticals (NASDAQ:RYTM) Releases Quarterly Earnings Results, Misses Expectations By $1.46 EPS


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Rhythm Pharmaceuticals (NASDAQ:RYTM) announced its quarterly earnings data on Sunday. The company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($1.46), Fidelity Earnings reports.

Shares of Rhythm Pharmaceuticals stock traded down $0.38 on Tuesday, hitting $21.57. 19,344 shares of the company’s stock traded hands, compared to its average volume of 456,222. Rhythm Pharmaceuticals has a one year low of $17.27 and a one year high of $43.26. The company has a fifty day moving average of $22.03 and a two-hundred day moving average of $26.59. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -7.22 and a beta of 1.57.

A number of equities analysts have issued reports on RYTM shares. Zacks Investment Research raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, March 5th. Morgan Stanley upped their target price on Rhythm Pharmaceuticals from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, March 9th. LADENBURG THALM/SH SH upped their target price on Rhythm Pharmaceuticals from $43.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 27th. Stifel Nicolaus upped their target price on Rhythm Pharmaceuticals from $36.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, January 27th. Finally, Canaccord Genuity upped their target price on Rhythm Pharmaceuticals from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, January 27th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.86.

In other Rhythm Pharmaceuticals news, CEO David P. Meeker bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 30th. The shares were bought at an average price of $20.17 per share, for a total transaction of $201,700.00. Following the transaction, the chief executive officer now directly owns 111,335 shares in the company, valued at $2,245,626.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.49% of the stock is owned by corporate insiders.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic diseases of obesity. The company's lead product candidate is IMCIVREE, a potent melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.

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Earnings History for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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