Rhythm Pharmaceuticals (NASDAQ:RYTM) Price Target Raised to $81.00

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price target lifted by Canaccord Genuity Group from $80.00 to $81.00 in a report published on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

RYTM has been the topic of several other reports. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. TD Cowen boosted 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. Finally, Jefferies Financial Group began coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price objective on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $68.18.

Rhythm Pharmaceuticals Stock Down 0.6 %

Shares of NASDAQ RYTM opened at $53.00 on Thursday. The company’s fifty day moving average is $56.98 and its 200-day moving average is $54.21. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -12.24 and a beta of 2.14. Rhythm Pharmaceuticals has a twelve month low of $35.17 and a twelve month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). The firm had revenue of $41.83 million for the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. On average, research analysts anticipate that Rhythm Pharmaceuticals will post -4.32 EPS for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 1,281 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $76,129.83. Following the transaction, the insider now directly owns 2,657 shares in the company, valued at $157,905.51. The trade was a 32.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the transaction, the chief accounting officer now owns 2,070 shares in the company, valued at $118,445.40. This represents a 23.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,787 shares of company stock worth $1,901,443 in the last ninety days. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RYTM. SRS Capital Advisors Inc. increased its stake in shares of Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after purchasing an additional 400 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $37,000. R Squared Ltd acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $44,000. Finally, State of Wyoming acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $61,000.

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.