Rhythm Pharmaceuticals (NASDAQ:RYTM) PT Lowered to $52.00

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price target lowered by Wells Fargo & Company from $53.00 to $52.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently commented on the stock. Needham & Company LLC restated a buy rating and issued a $50.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday, April 10th. The Goldman Sachs Group raised their target price on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $47.20.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM opened at $38.11 on Thursday. Rhythm Pharmaceuticals has a 52 week low of $15.50 and a 52 week high of $52.57. The company’s 50 day moving average is $42.98 and its two-hundred day moving average is $38.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Thursday, February 22nd. The company reported ($0.70) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.70). The business had revenue of $24.23 million during the quarter, compared to analysts’ expectations of $25.38 million. Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. The company’s revenue for the quarter was up 175.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.75) EPS. As a group, research analysts forecast that Rhythm Pharmaceuticals will post -4.05 earnings per share for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 71,774 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $50.38, for a total transaction of $3,615,974.12. Following the sale, the insider now owns 2,686 shares in the company, valued at $135,320.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Joseph Shulman sold 71,774 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $50.38, for a total transaction of $3,615,974.12. Following the sale, the insider now owns 2,686 shares in the company, valued at $135,320.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Yann Mazabraud sold 1,594 shares of Rhythm Pharmaceuticals stock in a transaction on Monday, February 12th. The stock was sold at an average price of $51.38, for a total transaction of $81,899.72. Following the completion of the sale, the executive vice president now owns 7,702 shares of the company’s stock, valued at approximately $395,728.76. The disclosure for this sale can be found here. Insiders have sold a total of 172,069 shares of company stock valued at $7,626,355 over the last ninety days. Corporate insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS Group AG raised its position in Rhythm Pharmaceuticals by 1,401.4% in the second quarter. UBS Group AG now owns 7,507 shares of the company’s stock worth $31,000 after acquiring an additional 7,007 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Rhythm Pharmaceuticals by 95.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,458 shares of the company’s stock worth $33,000 after buying an additional 713 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in Rhythm Pharmaceuticals during the 1st quarter worth about $39,000. AJOVista LLC acquired a new stake in Rhythm Pharmaceuticals during the 4th quarter worth about $42,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Rhythm Pharmaceuticals by 253.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,260 shares of the company’s stock worth $52,000 after buying an additional 1,620 shares during the period.

Rhythm Pharmaceuticals Company Profile

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.