Equities Analysts Offer Predictions for RYTM FY2024 Earnings

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) – Analysts at HC Wainwright decreased their FY2024 earnings per share estimates for shares of Rhythm Pharmaceuticals in a research report issued on Thursday, November 7th. HC Wainwright analyst R. Selvaraju now forecasts that the company will earn ($4.45) per share for the year, down from their prior forecast of ($4.42). HC Wainwright has a “Buy” rating and a $69.00 price target on the stock. The consensus estimate for Rhythm Pharmaceuticals’ current full-year earnings is ($4.41) per share. HC Wainwright also issued estimates for Rhythm Pharmaceuticals’ Q4 2024 earnings at ($0.84) EPS, Q1 2025 earnings at ($0.81) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.70) EPS, Q4 2025 earnings at ($0.61) EPS and FY2025 earnings at ($2.87) EPS.

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

Several other research analysts have also recently weighed in on the company. Guggenheim started coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective for the company. Bank of America upped their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Needham & Company LLC boosted their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. JMP Securities started coverage on shares of Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 target price for the company. Finally, Canaccord Genuity Group boosted their price target on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.30.

Rhythm Pharmaceuticals Trading Down 2.3 %

RYTM stock opened at $64.06 on Monday. The stock has a 50-day moving average price of $51.73 and a two-hundred day moving average price of $46.25. Rhythm Pharmaceuticals has a 1 year low of $27.12 and a 1 year high of $68.58. The stock has a market cap of $3.94 billion, a PE ratio of -14.79 and a beta of 2.09.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently modified their holdings of RYTM. Swiss National Bank grew its position in shares of Rhythm Pharmaceuticals by 4.0% during the 1st quarter. Swiss National Bank now owns 93,300 shares of the company’s stock worth $4,043,000 after purchasing an additional 3,600 shares in the last quarter. Sei Investments Co. raised its holdings in Rhythm Pharmaceuticals by 85.8% in the 1st quarter. Sei Investments Co. now owns 11,470 shares of the company’s stock valued at $497,000 after acquiring an additional 5,296 shares in the last quarter. ProShare Advisors LLC raised its holdings in Rhythm Pharmaceuticals by 12.4% in the 1st quarter. ProShare Advisors LLC now owns 13,808 shares of the company’s stock valued at $598,000 after acquiring an additional 1,527 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Rhythm Pharmaceuticals by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company’s stock valued at $143,169,000 after acquiring an additional 77,208 shares during the period. Finally, National Bank of Canada FI grew its holdings in shares of Rhythm Pharmaceuticals by 53.8% during the 1st quarter. National Bank of Canada FI now owns 367,517 shares of the company’s stock worth $15,925,000 after purchasing an additional 128,517 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Lynn A. Tetrault sold 4,300 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $50.01, for a total transaction of $215,043.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $150,030. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Pamela J. Cramer sold 4,099 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $50.03, for a total value of $205,072.97. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at $675,405. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lynn A. Tetrault sold 4,300 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $50.01, for a total value of $215,043.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $150,030. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,539 shares of company stock valued at $3,417,545 over the last 90 days. 5.60% of the stock is currently owned by insiders.

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.