Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Yann Mazabraud Sells 75,000 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Yann Mazabraud sold 75,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the sale, the executive vice president now directly owns 40,370 shares in the company, valued at approximately $2,078,247.60. This trade represents a 65.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Rhythm Pharmaceuticals Trading Down 0.1 %

Shares of NASDAQ:RYTM opened at $52.29 on Wednesday. The stock has a market capitalization of $3.31 billion, a PE ratio of -12.08 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The firm has a fifty day moving average price of $55.51 and a 200 day moving average price of $54.81.

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

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. boosted its holdings in Rhythm Pharmaceuticals by 1.9% during the third quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock valued at $126,624,000 after acquiring an additional 45,648 shares during the period. Geode Capital Management LLC boosted its holdings in Rhythm Pharmaceuticals by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock valued at $65,824,000 after acquiring an additional 3,499 shares during the period. Janus Henderson Group PLC boosted its holdings in Rhythm Pharmaceuticals by 103.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock valued at $68,309,000 after acquiring an additional 621,432 shares during the period. Alkeon Capital Management LLC boosted its holdings in Rhythm Pharmaceuticals by 16.8% during the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock valued at $61,176,000 after acquiring an additional 167,700 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Rhythm Pharmaceuticals by 14.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock valued at $58,208,000 after acquiring an additional 143,800 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RYTM. HC Wainwright boosted their target price on shares of Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Oppenheimer started coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 target price on the stock. Needham & Company LLC upped their price target on shares of Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Canaccord Genuity Group upped their price target on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Stifel Nicolaus started coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They issued a “buy” rating and a $78.00 price target on the stock. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.46.

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.