Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Given Average Rating of “Moderate Buy” by Analysts

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have received a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $68.27.

A number of brokerages recently weighed in on RYTM. Jefferies Financial Group started coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price target for the company. The Goldman Sachs Group upped their target price on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. JMP Securities reiterated a “market outperform” rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. HC Wainwright boosted their price target on shares of Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Oppenheimer began coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 price target on the stock.

Rhythm Pharmaceuticals Trading Down 4.6 %

Shares of RYTM stock opened at $52.40 on Tuesday. The firm has a fifty day moving average price of $56.91 and a 200 day moving average price of $54.39. The company has a market cap of $3.22 billion, a P/E ratio of -12.10 and a beta of 2.14. Rhythm Pharmaceuticals has a 12 month low of $35.17 and a 12 month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). 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 during the quarter, compared to analysts’ expectations of $38.48 million. On average, equities analysts forecast that Rhythm Pharmaceuticals will post -4.32 EPS for the current year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, EVP Jennifer Kayden Lee sold 1,815 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $56.39, for a total transaction of $102,347.85. Following the transaction, the executive vice president now directly owns 3,598 shares in the company, valued at approximately $202,891.22. This represents a 33.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Christopher Paul German sold 635 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,787 shares of company stock worth $1,901,443. 5.60% of the stock is owned by company insiders.

Institutional Trading of Rhythm Pharmaceuticals

Several large investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $4,259,000. GF Fund Management CO. LTD. acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $72,000. Voloridge Investment Management LLC grew its position in shares of Rhythm Pharmaceuticals by 7.7% in the fourth quarter. Voloridge Investment Management LLC now owns 380,537 shares of the company’s stock valued at $21,302,000 after purchasing an additional 27,214 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Rhythm Pharmaceuticals by 2.3% in the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock valued at $733,000 after purchasing an additional 300 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $61,000.

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.