Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has received an average rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $114.8571.

A number of analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Rhythm Pharmaceuticals from $122.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Needham & Company LLC upped their price target on shares of Rhythm Pharmaceuticals from $95.00 to $122.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Canaccord Genuity Group increased their price target on Rhythm Pharmaceuticals from $105.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, November 10th.

Rhythm Pharmaceuticals Trading Up 0.6%

Shares of RYTM opened at $105.18 on Thursday. The stock’s 50-day moving average price is $104.52 and its two-hundred day moving average price is $91.13. Rhythm Pharmaceuticals has a 12 month low of $45.90 and a 12 month high of $116.00. The company has a market capitalization of $7.02 billion, a PE ratio of -33.93 and a beta of 1.96.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). The company had revenue of $51.30 million for the quarter, compared to the consensus estimate of $50.71 million. Rhythm Pharmaceuticals had a negative return on equity of 433.21% and a negative net margin of 110.32%. Equities research analysts predict that Rhythm Pharmaceuticals will post -4.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 9,748 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $115.24, for a total value of $1,123,359.52. Following the completion of the sale, the insider directly owned 8,509 shares in the company, valued at approximately $980,577.16. The trade was a 53.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 27,000 shares of company stock worth $3,064,490 over the last ninety days. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of RYTM. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Rhythm Pharmaceuticals by 4.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,568 shares of the company’s stock valued at $259,000 after acquiring an additional 110 shares in the last quarter. Captrust Financial Advisors grew its holdings in Rhythm Pharmaceuticals by 0.7% in the second quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock worth $1,104,000 after purchasing an additional 114 shares during the period. Smartleaf Asset Management LLC increased its stake in Rhythm Pharmaceuticals by 97.2% in 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. Optiver Holding B.V. raised its holdings in shares of Rhythm Pharmaceuticals by 65.2% during the third quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after purchasing an additional 144 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in shares of Rhythm Pharmaceuticals by 1.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,960 shares of the company’s stock worth $1,309,000 after purchasing an additional 188 shares in the last quarter.

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.