Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) to Post Q3 2024 Earnings of ($0.73) Per Share, HC Wainwright Forecasts

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) – Investment analysts at HC Wainwright issued their Q3 2024 earnings estimates for shares of Rhythm Pharmaceuticals in a report released on Wednesday, September 18th. HC Wainwright analyst R. Selvaraju expects that the company will post earnings of ($0.73) per share for the quarter. HC Wainwright has a “Buy” rating and a $64.00 price objective on the stock. The consensus estimate for Rhythm Pharmaceuticals’ current full-year earnings is ($4.44) per share. HC Wainwright also issued estimates for Rhythm Pharmaceuticals’ Q4 2024 earnings at ($0.72) EPS, FY2024 earnings at ($4.33) EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.59) EPS, Q3 2025 earnings at ($0.55) EPS, Q4 2025 earnings at ($0.51) EPS and FY2025 earnings at ($2.26) EPS.

Other equities analysts have also issued reports about the stock. JMP Securities started coverage on shares of Rhythm Pharmaceuticals in a report on Tuesday. They issued an “outperform” rating and a $64.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.88.

Rhythm Pharmaceuticals Stock Down 3.2 %

RYTM stock opened at $52.80 on Friday. Rhythm Pharmaceuticals has a 12 month low of $20.97 and a 12 month high of $55.64. The firm has a market cap of $3.23 billion, a P/E ratio of -11.40 and a beta of 2.07. The company’s 50-day moving average price is $48.13 and its two-hundred day moving average price is $43.15.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $29.08 million during the quarter, compared to analysts’ expectations of $28.79 million. During the same quarter in the previous year, the company earned ($0.82) EPS. The business’s revenue was up 51.3% on a year-over-year basis.

Insider Activity at Rhythm Pharmaceuticals

In related news, Director Jennifer L. Good sold 31,751 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $157,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jennifer L. Good sold 31,751 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the sale, the director now directly owns 3,000 shares in the company, valued at approximately $157,200. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph Shulman sold 10,468 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $53.00, for a total transaction of $554,804.00. Following the sale, the insider now owns 30 shares in the company, valued at $1,590. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,033 shares of company stock valued at $6,214,392. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its position in shares of Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares during the period. ORG Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 2nd quarter worth approximately $51,000. Quest Partners LLC lifted its position in shares of Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after purchasing an additional 1,391 shares during the period. Quarry LP acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $69,000. Finally, ZRC Wealth Management LLC lifted its position in shares of Rhythm Pharmaceuticals by 392.8% in the 1st quarter. ZRC Wealth Management LLC now owns 1,971 shares of the company’s stock worth $85,000 after purchasing an additional 1,571 shares during the period.

About Rhythm Pharmaceuticals

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.