Rhythm Pharmaceuticals (NASDAQ:RYTM) Price Target Raised to $69.00

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price objective lifted by HC Wainwright from $64.00 to $69.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 10.14% from the stock’s current price.

Several other research analysts also recently commented on RYTM. TD Cowen raised their price target on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC raised their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. Guggenheim assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 target price on the stock. Canaccord Genuity Group raised their target price on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Bank of America raised their target price on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.30.

Rhythm Pharmaceuticals Price Performance

RYTM stock opened at $62.65 on Thursday. The company has a market capitalization of $3.83 billion, a PE ratio of -14.37 and a beta of 2.09. Rhythm Pharmaceuticals has a 12 month low of $23.83 and a 12 month high of $64.73. The firm’s 50-day moving average is $50.25 and its 200 day moving average is $45.46.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.07. The company had revenue of $33.20 million for the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The firm’s revenue was up 47.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.76) EPS. Sell-side analysts forecast that Rhythm Pharmaceuticals will post -4.45 EPS for the current fiscal year.

Insider Activity

In related news, insider Pamela J. Cramer sold 3,200 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $50.01, for a total value of $160,032.00. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at $675,135. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Pamela J. Cramer sold 3,200 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $50.01, for a total value of $160,032.00. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at $675,135. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pamela J. Cramer sold 49,006 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $45.15, for a total transaction of $2,212,620.90. Following the completion of the sale, the insider now owns 13,500 shares of the company’s stock, valued at $609,525. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,857 shares of company stock worth $5,325,446. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Rhythm Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Swiss National Bank lifted its stake in Rhythm Pharmaceuticals by 4.0% during the 1st quarter. Swiss National Bank now owns 93,300 shares of the company’s stock valued at $4,043,000 after acquiring an additional 3,600 shares during the period. Sei Investments Co. lifted its stake in Rhythm Pharmaceuticals by 85.8% during the 1st quarter. Sei Investments Co. now owns 11,470 shares of the company’s stock valued at $497,000 after acquiring an additional 5,296 shares during the period. ProShare Advisors LLC lifted its stake in Rhythm Pharmaceuticals by 12.4% during the 1st quarter. ProShare Advisors LLC now owns 13,808 shares of the company’s stock valued at $598,000 after acquiring an additional 1,527 shares during the period. Vanguard Group Inc. lifted its stake in Rhythm Pharmaceuticals by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company’s stock valued at $143,169,000 after acquiring an additional 77,208 shares during the period. Finally, National Bank of Canada FI lifted its stake in Rhythm Pharmaceuticals by 53.8% during the 1st quarter. National Bank of Canada FI now owns 367,517 shares of the company’s stock valued at $15,925,000 after acquiring an additional 128,517 shares during the period.

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.