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

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have earned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, fifteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $131.8125.

Several research analysts recently issued reports on the stock. Morgan Stanley cut their price target on shares of Rhythm Pharmaceuticals from $150.00 to $136.00 and set an “overweight” rating for the company in a report on Tuesday, March 17th. Guggenheim increased their price target on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Telsey Advisory Group set a $143.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday, March 12th. Wells Fargo & Company increased their price target on shares of Rhythm Pharmaceuticals from $143.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their price target on shares of Rhythm Pharmaceuticals from $136.00 to $137.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th.

Insider Transactions at Rhythm Pharmaceuticals

In related news, CAO Christopher Paul German sold 5,614 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $89.56, for a total transaction of $502,789.84. Following the completion of the transaction, the chief accounting officer directly owned 160 shares of the company’s stock, valued at $14,329.60. This represents a 97.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RA Capital Management L.P. grew its position in Rhythm Pharmaceuticals by 17.3% during the fourth quarter. RA Capital Management L.P. now owns 6,666,837 shares of the company’s stock worth $713,618,000 after buying an additional 985,478 shares during the period. Vanguard Group Inc. grew its position in Rhythm Pharmaceuticals by 24.3% during the fourth quarter. Vanguard Group Inc. now owns 6,210,916 shares of the company’s stock worth $664,816,000 after buying an additional 1,214,489 shares during the period. State Street Corp grew its position in Rhythm Pharmaceuticals by 8.4% during the fourth quarter. State Street Corp now owns 2,198,615 shares of the company’s stock worth $235,340,000 after buying an additional 169,964 shares during the period. Federated Hermes Inc. grew its position in Rhythm Pharmaceuticals by 2.5% during the third quarter. Federated Hermes Inc. now owns 1,727,885 shares of the company’s stock worth $174,499,000 after buying an additional 41,391 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Rhythm Pharmaceuticals by 11.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,560,847 shares of the company’s stock worth $167,074,000 after buying an additional 160,950 shares during the period.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM opened at $91.42 on Thursday. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of -29.21 and a beta of 1.94. Rhythm Pharmaceuticals has a one year low of $58.71 and a one year high of $122.20. The company has a 50-day simple moving average of $87.27 and a 200-day simple moving average of $97.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.86) by $0.03. The firm had revenue of $60.11 million during the quarter, compared to analysts’ expectations of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The firm’s revenue for the quarter was up 83.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.81) earnings per share. As a group, research analysts forecast that Rhythm Pharmaceuticals will post -3.18 EPS for the current fiscal 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.