Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Given Average Rating of “Moderate Buy” by Analysts

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have been given an average rating of “Moderate Buy” by the nineteen research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $131.1250.

RYTM has been the topic of a number of research analyst reports. Needham & Company LLC reduced their price target on Rhythm Pharmaceuticals from $139.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 22nd. UBS Group reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, December 17th. Bank of America decreased their target price on Rhythm Pharmaceuticals from $145.00 to $139.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Finally, Morgan Stanley dropped their price target on Rhythm Pharmaceuticals from $150.00 to $136.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th.

Rhythm Pharmaceuticals Stock Up 0.5%

Shares of Rhythm Pharmaceuticals stock opened at $87.28 on Wednesday. The firm has a market cap of $5.96 billion, a PE ratio of -28.06 and a beta of 2.14. Rhythm Pharmaceuticals has a 12-month low of $55.31 and a 12-month high of $122.20. The company’s fifty day simple moving average is $91.99 and its two-hundred day simple moving average is $100.80.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.06. The firm had revenue of $57.25 million during the quarter, compared to the consensus estimate of $56.16 million. Rhythm Pharmaceuticals had a negative net margin of 103.57% and a negative return on equity of 266.56%. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.72) earnings per share. As a group, sell-side analysts expect that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Hunter C. Smith sold 4,385 shares of Rhythm Pharmaceuticals stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $101.26, for a total transaction of $444,025.10. Following the sale, the chief financial officer owned 110,512 shares of the company’s stock, valued at approximately $11,190,445.12. The trade was a 3.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Christopher Paul German sold 5,614 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $89.56, for a total transaction of $502,789.84. Following the completion of the transaction, the chief accounting officer directly owned 160 shares of the company’s stock, valued at approximately $14,329.60. The trade was a 97.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 27,267 shares of company stock valued at $2,719,955. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Rhythm Pharmaceuticals

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of Rhythm Pharmaceuticals by 303.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Rhythm Pharmaceuticals by 97.2% during the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after purchasing an additional 141 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Rhythm Pharmaceuticals by 73.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 145 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Rhythm Pharmaceuticals by 1,110.3% in the third quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock worth $35,000 after purchasing an additional 322 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Rhythm Pharmaceuticals by 48.6% in the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after purchasing an additional 118 shares in the last quarter.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.