Zacks: Brokerages Expect Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Will Announce Earnings of -$0.98 Per Share

Wall Street analysts forecast that Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Rating) will post earnings per share of ($0.98) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Rhythm Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($1.08) and the highest estimate coming in at ($0.82). Rhythm Pharmaceuticals reported earnings of $0.90 per share during the same quarter last year, which indicates a negative year over year growth rate of 208.9%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Rhythm Pharmaceuticals will report full-year earnings of ($3.78) per share for the current financial year, with EPS estimates ranging from ($4.65) to ($3.29). For the next fiscal year, analysts anticipate that the company will report earnings of ($3.16) per share, with EPS estimates ranging from ($3.80) to ($2.16). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Rhythm Pharmaceuticals.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Rating) last announced its earnings results on Tuesday, March 1st. The company reported ($0.85) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.00) by $0.15. Rhythm Pharmaceuticals had a negative net margin of 2,207.13% and a negative return on equity of 20.80%. During the same quarter last year, the firm earned ($0.79) earnings per share.

Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, February 4th. Canaccord Genuity Group lowered their price objective on shares of Rhythm Pharmaceuticals from $45.00 to $36.00 in a research note on Monday, March 7th. Canaccord Genuity Group lowered their price objective on shares of Rhythm Pharmaceuticals from $45.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, March 7th. The Goldman Sachs Group decreased their price target on shares of Rhythm Pharmaceuticals from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, LADENBURG THALM/SH SH upgraded shares of Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Thursday, February 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.33.

RYTM stock traded down $0.22 during mid-day trading on Wednesday, hitting $8.97. 8,530 shares of the company were exchanged, compared to its average volume of 560,638. The business has a fifty day simple moving average of $9.18 and a 200-day simple moving average of $10.24. Rhythm Pharmaceuticals has a 12-month low of $6.01 and a 12-month high of $23.05.

A number of hedge funds have recently added to or reduced their stakes in the business. Primecap Management Co. CA raised its holdings in Rhythm Pharmaceuticals by 1.2% during the fourth quarter. Primecap Management Co. CA now owns 6,256,991 shares of the company’s stock worth $62,445,000 after purchasing an additional 75,900 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 0.8% in the 3rd quarter. BlackRock Inc. now owns 3,361,986 shares of the company’s stock valued at $43,907,000 after acquiring an additional 26,325 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 6.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,096,548 shares of the company’s stock valued at $30,904,000 after acquiring an additional 191,229 shares during the period. Geode Capital Management LLC increased its holdings in shares of Rhythm Pharmaceuticals by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 714,028 shares of the company’s stock valued at $7,125,000 after acquiring an additional 46,370 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Rhythm Pharmaceuticals by 36.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 684,746 shares of the company’s stock valued at $6,834,000 after acquiring an additional 182,476 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Rhythm Pharmaceuticals Company Profile (Get Rating)

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic diseases of obesity. The company's lead product candidate is IMCIVREE, a potent 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.

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