Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives $55.83 Average Price Target from Analysts

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $55.83.

RYTM has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $55.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. Canaccord Genuity Group lowered their price target on shares of Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, Bank of America cut shares of Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the company from $49.00 to $42.00 in a research report on Wednesday, May 8th.

Rhythm Pharmaceuticals Trading Down 1.3 %

NASDAQ:RYTM opened at $46.08 on Friday. The company has a 50-day moving average price of $45.08 and a 200-day moving average price of $42.84. Rhythm Pharmaceuticals has a 12 month low of $20.97 and a 12 month high of $53.92. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -9.95 and a beta of 2.04.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The company had revenue of $29.08 million during the quarter, compared to analysts’ expectations of $28.79 million. During the same period last year, the company posted ($0.82) EPS. Rhythm Pharmaceuticals’s revenue was up 51.3% on a year-over-year basis. Equities analysts forecast that Rhythm Pharmaceuticals will post -4.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 49,006 shares of Rhythm Pharmaceuticals stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $45.15, for a total value of $2,212,620.90. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at $609,525. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Pamela J. Cramer sold 49,006 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $45.15, for a total value of $2,212,620.90. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at $609,525. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Shulman sold 5,313 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $50.01, for a total transaction of $265,703.13. Following the completion of the sale, the insider now owns 30 shares of the company’s stock, valued at $1,500.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,182 shares of company stock valued at $3,101,567. Insiders own 5.60% of the company’s stock.

Institutional Trading of Rhythm Pharmaceuticals

Large investors have recently made changes to their positions in the stock. CWM LLC grew its stake in shares of Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after acquiring an additional 253 shares during the period. AJOVista LLC bought a new stake in Rhythm Pharmaceuticals during the fourth quarter valued at approximately $42,000. ORG Partners LLC bought a new stake in Rhythm Pharmaceuticals during the second quarter valued at approximately $51,000. Nisa Investment Advisors LLC grew its position in Rhythm Pharmaceuticals by 91.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company’s stock valued at $58,000 after buying an additional 600 shares during the period. Finally, Quest Partners LLC grew its position in Rhythm Pharmaceuticals by 513.3% during the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after buying an additional 1,391 shares during the period.

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.