Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $68.09.

A number of brokerages recently weighed in on RYTM. Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $69.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Guggenheim began coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a “buy” rating and a $70.00 price target on the stock. JMP Securities reissued a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, Needham & Company LLC lifted their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

Insider Activity

In other news, CEO David P. Meeker sold 4,278 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $254,241.54. Following the completion of the sale, the chief executive officer now directly owns 189,927 shares in the company, valued at $11,287,361.61. The trade was a 2.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Hunter C. Smith sold 1,678 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $99,723.54. Following the sale, the chief financial officer now owns 101,186 shares of the company’s stock, valued at approximately $6,013,483.98. This represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,826 shares of company stock worth $5,833,370 in the last three months. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. lifted its holdings in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after purchasing an additional 400 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter worth approximately $37,000. R Squared Ltd acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter worth approximately $44,000. Finally, ORG Wealth Partners LLC acquired a new stake in Rhythm Pharmaceuticals in the 3rd quarter worth approximately $63,000.

Rhythm Pharmaceuticals Stock Down 1.7 %

NASDAQ:RYTM opened at $60.01 on Friday. The business’s 50-day moving average price is $57.37 and its 200 day moving average price is $53.19. The firm has a market cap of $3.69 billion, a P/E ratio of -13.86 and a beta of 2.14. Rhythm Pharmaceuticals has a 52-week low of $35.17 and a 52-week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. The firm 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%. Rhythm Pharmaceuticals’s revenue was up 47.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.76) earnings per share. Sell-side analysts expect that Rhythm Pharmaceuticals will post -4.33 EPS for the current year.

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.