Rhythm Pharmaceuticals (NASDAQ:RYTM) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Rhythm Pharmaceuticals (NASDAQ:RYTM) posted its quarterly earnings data on Wednesday. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03), Zacks reports. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $41.83 million for the quarter, compared to analysts’ expectations of $38.48 million.

Rhythm Pharmaceuticals Stock Performance

RYTM stock traded up $0.03 on Friday, reaching $53.03. The company had a trading volume of 240,280 shares, compared to its average volume of 488,516. The company’s fifty day moving average is $56.93 and its 200 day moving average is $54.20. The company has a market cap of $3.26 billion, a P/E ratio of -12.24 and a beta of 2.14. Rhythm Pharmaceuticals has a 1 year low of $35.17 and a 1 year high of $68.58.

Insiders Place Their Bets

In related news, CFO Hunter C. Smith sold 2,215 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $126,742.30. Following the completion of the sale, the chief financial officer now owns 109,929 shares in the company, valued at approximately $6,290,137.38. This trade represents a 1.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of the transaction, the chief accounting officer now directly owns 2,070 shares of the company’s stock, valued at $118,445.40. The trade was a 23.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,787 shares of company stock valued at $1,901,443. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

RYTM has been the topic of several recent analyst reports. Oppenheimer started coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Thursday. JMP Securities reissued a “market outperform” rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. HC Wainwright reaffirmed a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, TD Cowen raised their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $68.18.

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.