Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives $131.29 Consensus Target Price from Brokerages

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $131.50.

RYTM has been the topic of a number of analyst reports. Zacks Research upgraded Rhythm Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday. HC Wainwright boosted their price target on shares of Rhythm Pharmaceuticals from $123.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. UBS Group reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 22nd. Finally, Citigroup reiterated an “outperform” rating on shares of Rhythm Pharmaceuticals in a report on Friday, December 12th.

Rhythm Pharmaceuticals Stock Performance

NASDAQ RYTM opened at $103.16 on Tuesday. The firm has a market capitalization of $6.88 billion, a P/E ratio of -33.28 and a beta of 2.00. The stock has a 50-day simple moving average of $105.69 and a two-hundred day simple moving average of $103.23. Rhythm Pharmaceuticals has a fifty-two week low of $45.90 and a fifty-two week high of $122.20.

Rhythm Pharmaceuticals News Summary

Here are the key news stories impacting Rhythm Pharmaceuticals this week:

• Positive Sentiment: Imcivree revenue and new commercial targets are changing the story for Rhythm — coverage highlights accelerating Imcivree sales and updated company targets that support a higher growth outlook and valuation. How The Rhythm Pharmaceuticals RYTM Story Is Shifting With Imcivree Revenue And New Targets
• Positive Sentiment: Zacks expects Rhythm to beat upcoming earnings estimates, citing the right combination of revenue momentum and analyst expectations — this raises the odds of an upside surprise at the next report. RYTM Expected to Beat Earnings Estimates
• Positive Sentiment: Zacks upgraded its rating on RYTM from “strong sell” to “hold,” signaling improving analyst sentiment after recent commercial/financial developments. Zacks.com
• Neutral Sentiment: Rhythm is scheduled to report quarterly results soon — the upcoming earnings release is a near-term catalyst that could increase volatility depending on top-line Imcivree performance and guidance. Projected to Post Quarterly Earnings
• Negative Sentiment: Insider selling: CFO Hunter C. Smith sold 3,569 shares on Feb. 17 (avg ~$101.38) and 4,385 shares on Feb. 19 (avg ~$101.26), reducing his holdings by a few percent in each filing — insider sales can weigh on sentiment even if amounts are modest relative to total float. SEC filing: Insider Sale SEC Filing

Insiders Place Their Bets

In other news, CFO Hunter C. Smith sold 4,385 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $101.26, for a total transaction of $444,025.10. Following the completion of the sale, the chief financial officer owned 110,512 shares in the company, valued at $11,190,445.12. This trade represents a 3.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pamela J. Cramer sold 3,350 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $111.00, for a total transaction of $371,850.00. Following the completion of the transaction, the insider directly owned 20,814 shares in the company, valued at $2,310,354. The trade was a 13.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 25,003 shares of company stock valued at $2,589,015 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several large investors have recently added to or reduced their stakes in RYTM. Invesco Ltd. raised its stake in shares of Rhythm Pharmaceuticals by 102.8% in the 4th quarter. Invesco Ltd. now owns 291,150 shares of the company’s stock valued at $31,165,000 after acquiring an additional 147,595 shares during the period. Empowered Funds LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 94.1% in the 4th quarter. Empowered Funds LLC now owns 4,164 shares of the company’s stock valued at $446,000 after buying an additional 2,019 shares during the period. XTX Topco Ltd acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at approximately $1,117,000. Wellington Management Group LLP lifted its holdings in shares of Rhythm Pharmaceuticals by 922.0% in the 4th quarter. Wellington Management Group LLP now owns 250,156 shares of the company’s stock worth $26,777,000 after purchasing an additional 225,679 shares during the last quarter. Finally, SummitTX Capital L.P. boosted its position in Rhythm Pharmaceuticals by 580.2% during the 4th quarter. SummitTX Capital L.P. now owns 80,729 shares of the company’s stock valued at $8,641,000 after purchasing an additional 68,860 shares during the period.

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.