Rhythm Pharmaceuticals (NASDAQ:RYTM) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.
RYTM has been the subject of several other research reports. Zacks Investment Research raised shares of Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Thursday, December 5th. Cowen reaffirmed a “buy” rating and set a $40.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Wednesday, September 25th. Finally, LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $43.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, September 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.00.
Shares of RYTM stock opened at $24.76 on Tuesday. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -10.36 and a beta of 0.66. Rhythm Pharmaceuticals has a 52 week low of $18.00 and a 52 week high of $31.94. The company has a quick ratio of 6.78, a current ratio of 6.78 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $22.34 and a 200-day moving average of $22.04.
Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Friday, November 1st. The company reported ($1.04) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.02. Analysts anticipate that Rhythm Pharmaceuticals will post -4 earnings per share for the current year.
In related news, Director Todd Foley sold 102,682 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $21.78, for a total value of $2,236,413.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 444,075 shares of company stock worth $9,935,520. 4.45% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of RYTM. BlackRock Inc. lifted its holdings in shares of Rhythm Pharmaceuticals by 24.9% in the 2nd quarter. BlackRock Inc. now owns 1,908,058 shares of the company’s stock worth $41,976,000 after purchasing an additional 380,085 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 1,110.9% in the 3rd quarter. Millennium Management LLC now owns 240,428 shares of the company’s stock worth $5,190,000 after purchasing an additional 220,573 shares in the last quarter. University of Notre Dame DU Lac bought a new position in shares of Rhythm Pharmaceuticals in the 2nd quarter worth $3,051,000. State Street Corp lifted its holdings in shares of Rhythm Pharmaceuticals by 18.7% in the 3rd quarter. State Street Corp now owns 717,540 shares of the company’s stock worth $15,492,000 after purchasing an additional 113,164 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter worth $1,547,000. Institutional investors own 78.13% of the company’s stock.
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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