Brokerages Anticipate Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Will Announce Earnings of -$1.00 Per Share

Analysts expect that Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) will post ($1.00) earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have provided estimates for Rhythm Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.91) and the lowest estimate coming in at ($1.08). Rhythm Pharmaceuticals posted earnings of ($0.79) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 26.6%. The business is expected to issue its next quarterly earnings results on Monday, March 7th.

On average, analysts expect that Rhythm Pharmaceuticals will report full-year earnings of ($1.38) per share for the current fiscal year, with EPS estimates ranging from ($1.45) to ($1.31). For the next fiscal year, analysts forecast that the business will report earnings of ($3.34) per share, with EPS estimates ranging from ($3.37) to ($3.32). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Rhythm Pharmaceuticals.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, November 2nd. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.83) by $0.13. The company had revenue of $1.03 million for the quarter. During the same quarter last year, the business posted ($0.77) EPS.

Several research analysts recently issued reports on the stock. Morgan Stanley downgraded shares of Rhythm Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $50.00 to $15.00 in a research report on Friday, November 19th. Wells Fargo & Company initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 8th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Shares of NASDAQ RYTM opened at $9.03 on Friday. The firm’s 50-day simple moving average is $10.53 and its 200 day simple moving average is $13.52. The company has a market cap of $453.92 million, a price-to-earnings ratio of -7.00 and a beta of 1.31. Rhythm Pharmaceuticals has a 12-month low of $8.33 and a 12-month high of $43.26.

Several large investors have recently made changes to their positions in the stock. Moors & Cabot Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at approximately $34,000. Bank of New York Mellon Corp raised its position in shares of Rhythm Pharmaceuticals by 11.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 156,423 shares of the company’s stock valued at $2,043,000 after acquiring an additional 16,391 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Rhythm Pharmaceuticals by 105.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,908 shares of the company’s stock valued at $142,000 after acquiring an additional 5,611 shares during the period. UBS Group AG raised its position in shares of Rhythm Pharmaceuticals by 1.1% in the 3rd quarter. UBS Group AG now owns 80,970 shares of the company’s stock valued at $1,058,000 after acquiring an additional 851 shares during the period. Finally, Rock Springs Capital Management LP raised its position in shares of Rhythm Pharmaceuticals by 1.0% in the 3rd quarter. Rock Springs Capital Management LP now owns 612,180 shares of the company’s stock valued at $7,995,000 after acquiring an additional 5,900 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

Rhythm Pharmaceuticals Company Profile

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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