Analysts Set Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Target Price at $131.29

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has earned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $131.2857.

Several research firms have recently weighed in on RYTM. Needham & Company LLC increased their price objective on shares of Rhythm Pharmaceuticals from $145.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. UBS Group restated a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, December 17th. Guggenheim increased their price target on Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. HC Wainwright lifted their price objective on Rhythm Pharmaceuticals from $123.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, Citizens Jmp boosted their price objective on Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the company a “market outperform” rating in a research note on Friday, December 12th.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 9,748 shares of the business’s 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 transaction, the insider directly owned 8,509 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pamela J. Cramer sold 3,350 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $111.00, for a total transaction of $371,850.00. Following the sale, the insider directly owned 20,814 shares of the company’s stock, valued at approximately $2,310,354. This trade represents a 13.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 15,913 shares of company stock valued at $1,818,963. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of RYTM. Farther Finance Advisors LLC raised its holdings in shares of Rhythm Pharmaceuticals by 82.9% during the fourth quarter. Farther Finance Advisors LLC now owns 642 shares of the company’s stock valued at $69,000 after purchasing an additional 291 shares during the period. Yorktown Management & Research Co Inc bought a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $326,000. Harbor Capital Advisors Inc. increased its position in Rhythm Pharmaceuticals by 9.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 40,896 shares of the company’s stock valued at $4,378,000 after buying an additional 3,691 shares in the last quarter. GAMMA Investing LLC raised its stake in Rhythm Pharmaceuticals by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after buying an additional 118 shares during the period. Finally, Swiss Life Asset Management Ltd bought a new position in Rhythm Pharmaceuticals in the third quarter worth approximately $249,000.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM opened at $103.12 on Friday. The business has a 50-day moving average of $106.50 and a 200-day moving average of $101.43. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of -33.26 and a beta of 2.00. Rhythm Pharmaceuticals has a 1 year low of $45.90 and a 1 year high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. The firm had revenue of $51.30 million for the quarter, compared to analyst estimates of $50.71 million. As a group, sell-side analysts anticipate that Rhythm Pharmaceuticals will post -4.32 EPS for the current year.

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.