Q3 2024 Earnings Estimate for Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Issued By HC Wainwright

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) – Investment analysts at HC Wainwright lowered their Q3 2024 EPS estimates for Rhythm Pharmaceuticals in a research note issued on Monday, October 7th. HC Wainwright analyst R. Selvaraju now forecasts that the company will earn ($0.77) per share for the quarter, down from their previous forecast of ($0.73). HC Wainwright has a “Buy” rating and a $64.00 price target on the stock. The consensus estimate for Rhythm Pharmaceuticals’ current full-year earnings is ($4.43) per share. HC Wainwright also issued estimates for Rhythm Pharmaceuticals’ Q4 2024 earnings at ($0.78) EPS, FY2024 earnings at ($4.42) EPS, Q1 2025 earnings at ($0.73) EPS, Q2 2025 earnings at ($0.66) EPS, Q3 2025 earnings at ($0.62) EPS, Q4 2025 earnings at ($0.55) EPS and FY2025 earnings at ($2.56) EPS.

A number of other equities research analysts have also recently issued reports on RYTM. Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. JMP Securities started coverage on shares of Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.88.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM opened at $47.72 on Wednesday. Rhythm Pharmaceuticals has a 52-week low of $21.34 and a 52-week high of $55.64. The business has a fifty day moving average of $48.22 and a two-hundred day moving average of $44.05.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The business had revenue of $29.08 million during the quarter, compared to the consensus estimate of $28.79 million. During the same quarter last year, the company earned ($0.82) EPS. Rhythm Pharmaceuticals’s revenue was up 51.3% on a year-over-year basis.

Insiders Place Their Bets

In other news, insider Pamela J. Cramer sold 49,006 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $45.15, for a total transaction of $2,212,620.90. Following the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at $609,525. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Rhythm Pharmaceuticals news, Director Jennifer L. Good sold 31,751 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the completion of the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $157,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Pamela J. Cramer sold 49,006 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $45.15, for a total transaction of $2,212,620.90. Following the completion of the transaction, the insider now directly owns 13,500 shares in the company, valued at $609,525. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,033 shares of company stock valued at $6,214,392. 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 business. SG Americas Securities LLC increased its stake in shares of Rhythm Pharmaceuticals by 348.9% in the 2nd quarter. SG Americas Securities LLC now owns 33,727 shares of the company’s stock valued at $1,385,000 after acquiring an additional 26,214 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Rhythm Pharmaceuticals by 30.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 86,967 shares of the company’s stock valued at $3,768,000 after purchasing an additional 20,259 shares in the last quarter. Castleark Management LLC acquired a new stake in Rhythm Pharmaceuticals in the first quarter worth $2,769,000. Bayesian Capital Management LP bought a new position in shares of Rhythm Pharmaceuticals during the first quarter worth $665,000. Finally, Frazier Life Sciences Management L.P. grew its holdings in shares of Rhythm Pharmaceuticals by 8.3% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock valued at $97,366,000 after buying an additional 181,125 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.