Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $68.09.
A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Bank of America lifted their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. TD Cowen lifted their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. HC Wainwright reiterated a “buy” rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Finally, Needham & Company LLC lifted 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.
Check Out Our Latest Report on RYTM
Rhythm Pharmaceuticals Stock Performance
Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping 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 firm’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.76) earnings per share. On average, sell-side analysts expect that Rhythm Pharmaceuticals will post -4.34 EPS for the current fiscal year.
Insider Activity
In related news, EVP Jennifer Kayden Lee sold 66,861 shares of Rhythm Pharmaceuticals stock in a transaction on Monday, November 11th. The shares were sold at an average price of $66.33, for a total value of $4,434,890.13. Following the completion of the sale, the executive vice president now owns 972 shares of the company’s stock, valued at approximately $64,472.76. The trade was a 98.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pamela J. Cramer sold 4,688 shares of Rhythm Pharmaceuticals stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $65.00, for a total transaction of $304,720.00. Following the completion of the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $877,500. The trade was a 25.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,830 shares of company stock worth $5,622,000 in the last ninety days. Corporate insiders own 5.60% of the company’s stock.
Institutional Investors Weigh In On Rhythm Pharmaceuticals
Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Rhythm Pharmaceuticals by 79.7% in the 3rd quarter. FMR LLC now owns 50,295 shares of the company’s stock valued at $2,635,000 after purchasing an additional 22,306 shares during the last quarter. Principal Financial Group Inc. lifted its position in Rhythm Pharmaceuticals by 241.9% during the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock worth $1,707,000 after acquiring an additional 23,054 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Rhythm Pharmaceuticals by 307.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock worth $756,000 after acquiring an additional 10,882 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its position in Rhythm Pharmaceuticals by 8.3% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock worth $97,366,000 after acquiring an additional 181,125 shares during the last quarter. Finally, Creative Planning acquired a new position in Rhythm Pharmaceuticals during the 3rd quarter worth $450,000.
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.
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