Rhythm Pharmaceuticals (NASDAQ:RYTM) Coverage Initiated at Stifel Nicolaus

Stifel Nicolaus began coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a research note released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $78.00 target price on the stock.

Several other research firms also recently commented on RYTM. TD Cowen increased their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Canaccord Genuity Group increased their price objective on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, February 27th. HC Wainwright raised their price target on Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the company a “buy” rating in a report on Monday. Finally, Oppenheimer initiated coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They set an “outperform” rating and a $76.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.08.

Rhythm Pharmaceuticals Stock Down 0.5 %

NASDAQ:RYTM opened at $52.97 on Wednesday. Rhythm Pharmaceuticals has a twelve month low of $35.17 and a twelve month high of $68.58. The business has a 50 day moving average price of $56.79 and a two-hundred day moving average price of $54.48. The company has a market cap of $3.26 billion, a P/E ratio of -12.23 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The company had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. As a group, analysts anticipate that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,281 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $76,129.83. Following the transaction, the insider now owns 2,657 shares in the company, valued at $157,905.51. This trade represents a 32.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $36,334.70. Following the transaction, the chief accounting officer now owns 2,070 shares in the company, valued at $118,445.40. The trade was a 23.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,787 shares of company stock worth $1,901,443 in the last 90 days. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Creative Planning bought a new position in shares of Rhythm Pharmaceuticals in the third quarter worth $450,000. Principal Financial Group Inc. increased its position in shares of Rhythm Pharmaceuticals by 241.9% in the third quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock worth $1,707,000 after purchasing an additional 23,054 shares during the period. Victory Capital Management Inc. increased its position in shares of Rhythm Pharmaceuticals by 158.0% in the third quarter. Victory Capital Management Inc. now owns 18,186 shares of the company’s stock worth $953,000 after purchasing an additional 11,137 shares during the period. Quest Partners LLC increased its position in shares of Rhythm Pharmaceuticals by 451.6% in the third quarter. Quest Partners LLC now owns 9,167 shares of the company’s stock worth $480,000 after purchasing an additional 7,505 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Rhythm Pharmaceuticals in the third quarter worth $649,000.

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.