Other equities research analysts also recently issued research reports about the stock. LADENBURG THALM/SH SH reissued a buy rating and set a $43.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, July 30th. ValuEngine raised Rhythm Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded Rhythm Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, July 17th. Stifel Nicolaus reiterated a buy rating and set a $34.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, July 29th. Finally, Canaccord Genuity assumed coverage on Rhythm Pharmaceuticals in a report on Monday, July 8th. They issued a buy rating and a $35.00 target price for the company. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $38.80.
Shares of Rhythm Pharmaceuticals stock opened at $21.28 on Friday. Rhythm Pharmaceuticals has a 1 year low of $18.00 and a 1 year high of $32.62. The firm’s 50-day moving average is $20.84 and its 200 day moving average is $24.42. The stock has a market cap of $739.89 million, a price-to-earnings ratio of -8.90 and a beta of 0.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.80 and a quick ratio of 7.80.
Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Monday, July 29th. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.36). On average, equities analysts expect that Rhythm Pharmaceuticals will post -4.16 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in Rhythm Pharmaceuticals during the second quarter valued at approximately $31,000. Marshall Wace North America L.P. purchased a new stake in Rhythm Pharmaceuticals in the first quarter worth approximately $33,000. Bank of Montreal Can boosted its holdings in Rhythm Pharmaceuticals by 194,200.0% in the second quarter. Bank of Montreal Can now owns 1,943 shares of the company’s stock worth $43,000 after purchasing an additional 1,942 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Rhythm Pharmaceuticals by 105,433.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,166 shares of the company’s stock valued at $87,000 after buying an additional 3,163 shares during the last quarter. Finally, Tiff Advisory Services Inc. purchased a new stake in Rhythm Pharmaceuticals during the 1st quarter valued at $217,000. 90.58% of the stock is currently owned by hedge funds and other institutional investors.
Rhythm Pharmaceuticals Company Profile
Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic disorders that result in life-threatening metabolic disorders. The company's lead product candidate is setmelanotide, a melanocortin-4 receptor agonist peptide, which is in Phase III clinical trials to treat pro-opiomelanocortin (POMC) and leptin receptor deficiency obesity, and Bardet-Biedl and Alström syndrome; and is in Phase II clinical trials for treating POMC heterozygous deficiency obesity and POMC epigenetic disorders.
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