Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Joseph Shulman Sells 1,281 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 1,281 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $76,129.83. Following the completion of the transaction, the insider now owns 2,657 shares in the company, valued at $157,905.51. This represents a 32.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Joseph Shulman also recently made the following trade(s):

• On Monday, November 11th, Joseph Shulman sold 13,281 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $66.44, for a total transaction of $882,389.64.

Rhythm Pharmaceuticals Stock Down 1.7 %

RYTM opened at $60.01 on Friday. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58. The firm’s fifty day simple moving average is $57.37 and its 200 day simple moving average is $53.19.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. The company had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.76) earnings per share. On average, research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.33 earnings per share for the current year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake in shares of Rhythm Pharmaceuticals by 79.7% during the 3rd quarter. FMR LLC now owns 50,295 shares of the company’s stock worth $2,635,000 after acquiring an additional 22,306 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Rhythm Pharmaceuticals by 241.9% during 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 last quarter. BNP Paribas Financial Markets grew its position in Rhythm Pharmaceuticals by 307.1% in the third quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock valued at $756,000 after purchasing an additional 10,882 shares in the last quarter. Creative Planning acquired a new stake in Rhythm Pharmaceuticals in the 3rd quarter valued at $450,000. Finally, Intech Investment Management LLC bought a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth about $649,000.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RYTM. Canaccord Genuity Group restated a “buy” rating and issued a $80.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Oppenheimer assumed coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 target price for the company. JMP Securities reiterated a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Needham & Company LLC boosted their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group increased 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. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.09.

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.