Rhythm Pharmaceuticals (NASDAQ:RYTM) Hits New 12-Month Low at $10.97

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) reached a new 52-week low on Monday . The company traded as low as $10.97 and last traded at $10.98, with a volume of 1606 shares changing hands. The stock had previously closed at $11.31.

A number of equities research analysts have weighed in on the company. LADENBURG THALM/SH SH downgraded Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Wednesday, August 4th. Zacks Investment Research cut shares of Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, August 7th. Morgan Stanley cut their target price on shares of Rhythm Pharmaceuticals from $57.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, August 4th. Bank of America cut shares of Rhythm Pharmaceuticals from a “neutral” rating to an “underperform” rating and cut their target price for the company from $33.00 to $17.00 in a research note on Wednesday, August 4th. Finally, The Goldman Sachs Group upgraded shares of Rhythm Pharmaceuticals to a “hold” rating and set a $14.00 price objective for the company in a research report on Tuesday, September 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Rhythm Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $39.00.

The firm’s 50-day simple moving average is $12.73 and its 200 day simple moving average is $17.54. The company has a market cap of $551.77 million, a P/E ratio of -8.32 and a beta of 1.40.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Tuesday, August 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.05. The firm had revenue of $0.27 million during the quarter. As a group, equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -2.14 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Marshall Wace North America L.P. acquired a new position in shares of Rhythm Pharmaceuticals in the 1st quarter valued at $33,000. HM Payson & Co. grew its holdings in shares of Rhythm Pharmaceuticals by 231.6% in the 1st quarter. HM Payson & Co. now owns 1,701 shares of the company’s stock valued at $36,000 after buying an additional 1,188 shares during the period. Macquarie Group Ltd. grew its holdings in shares of Rhythm Pharmaceuticals by 313.3% in the 2nd quarter. Macquarie Group Ltd. now owns 1,930 shares of the company’s stock valued at $38,000 after buying an additional 1,463 shares during the period. Sierra Capital LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 1st quarter valued at $77,000. Finally, Royal Bank of Canada boosted its stake in Rhythm Pharmaceuticals by 482.4% in the 1st quarter. Royal Bank of Canada now owns 3,815 shares of the company’s stock worth $81,000 after purchasing an additional 3,160 shares during the period. 94.50% of the stock is owned by institutional investors.

About Rhythm Pharmaceuticals (NASDAQ:RYTM)

Rhythm Pharmaceuticals, Inc is a biopharmaceutical company, which engages in developing and commercializing peptide therapeutics for the treatment of gastrointestinal diseases and genetic deficiencies. The firm focuses on the treatment for Prader-Willi Syndrome and Pro-Opiomelanocortin deficiency obesity.

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