HC Wainwright Reiterates “Buy” Rating for Rhythm Pharmaceuticals (NASDAQ:RYTM)

HC Wainwright restated their buy rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a report released on Monday morning,Benzinga reports. The firm currently has a $69.00 price objective on the stock.

Several other research analysts have also commented on the company. JMP Securities assumed coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price objective on the stock. TD Cowen increased their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Needham & Company LLC raised their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a “buy” rating and a $70.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.30.

Rhythm Pharmaceuticals Trading Up 0.5 %

Shares of Rhythm Pharmaceuticals stock opened at $62.25 on Monday. The stock has a market capitalization of $3.83 billion, a P/E ratio of -14.31 and a beta of 2.09. The business’s fifty day moving average price is $53.73 and its 200 day moving average price is $47.59. Rhythm Pharmaceuticals has a twelve month low of $31.52 and a twelve month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same quarter in the previous year, the business earned ($0.76) EPS. The company’s revenue for the quarter was up 47.6% on a year-over-year basis. As a group, sell-side analysts predict that Rhythm Pharmaceuticals will post -4.36 EPS for the current year.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 4,099 shares of Rhythm Pharmaceuticals stock in a transaction on Monday, September 9th. The shares were sold at an average price of $50.03, for a total value of $205,072.97. Following the completion of the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $675,405. The trade was a 23.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Lynn A. Tetrault sold 17,501 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total transaction of $868,924.65. Following the sale, the director now directly owns 3,000 shares in the company, valued at $148,950. This trade represents a 85.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,181 shares of company stock valued at $8,359,750. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Castleark Management LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 1.3% in the 3rd quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock worth $1,009,000 after purchasing an additional 250 shares during the last quarter. CWM LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after acquiring an additional 253 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Rhythm Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after acquiring an additional 391 shares during the last quarter. American International Group Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 3.1% in the 1st quarter. American International Group Inc. now owns 26,318 shares of the company’s stock worth $1,140,000 after acquiring an additional 781 shares during the period. Finally, ORG Partners LLC bought a new stake in Rhythm Pharmaceuticals in the 2nd quarter valued at about $51,000.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare 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.