$2.90 Million in Sales Expected for Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) This Quarter

Equities research analysts forecast that Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Rating) will report $2.90 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Rhythm Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $2.30 million and the highest estimate coming in at $3.50 million. Rhythm Pharmaceuticals reported sales of $270,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 974.1%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Rhythm Pharmaceuticals will report full year sales of $19.59 million for the current financial year, with estimates ranging from $17.50 million to $21.67 million. For the next year, analysts forecast that the company will post sales of $44.50 million, with estimates ranging from $40.20 million to $48.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Rhythm Pharmaceuticals.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Rating) last announced its earnings results on Tuesday, May 3rd. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.07). Rhythm Pharmaceuticals had a negative net margin of 3,598.16% and a negative return on equity of 55.66%. During the same quarter in the prior year, the business earned $0.90 EPS.

RYTM has been the topic of several analyst reports. Needham & Company LLC lowered their price target on shares of Rhythm Pharmaceuticals from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 25th. Stifel Nicolaus began coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, March 2nd. They set a “buy” rating on the stock. Canaccord Genuity Group lowered their target price on shares of Rhythm Pharmaceuticals from $45.00 to $36.00 in a report on Monday, March 7th. The Goldman Sachs Group lowered their target price on shares of Rhythm Pharmaceuticals from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, April 7th. Finally, Canaccord Genuity Group lowered their target price on shares of Rhythm Pharmaceuticals from $45.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, March 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.33.

Shares of NASDAQ:RYTM opened at $3.12 on Friday. Rhythm Pharmaceuticals has a 1-year low of $3.06 and a 1-year high of $22.48. The company has a market capitalization of $157.23 million, a P/E ratio of -0.95 and a beta of 1.69. The firm’s 50 day simple moving average is $8.18 and its two-hundred day simple moving average is $9.04.

A number of institutional investors have recently added to or reduced their stakes in RYTM. Marshall Wace North America L.P. purchased a new stake in Rhythm Pharmaceuticals during the first quarter valued at $33,000. Morgan Stanley raised its stake in Rhythm Pharmaceuticals by 342.8% during the second quarter. Morgan Stanley now owns 446,606 shares of the company’s stock valued at $8,744,000 after purchasing an additional 345,757 shares in the last quarter. Swiss National Bank raised its stake in Rhythm Pharmaceuticals by 2.2% during the third quarter. Swiss National Bank now owns 77,700 shares of the company’s stock valued at $1,015,000 after purchasing an additional 1,700 shares in the last quarter. BlackRock Inc. raised its stake in Rhythm Pharmaceuticals by 0.8% during the third quarter. BlackRock Inc. now owns 3,361,986 shares of the company’s stock valued at $43,907,000 after purchasing an additional 26,325 shares in the last quarter. Finally, Barclays PLC raised its stake in Rhythm Pharmaceuticals by 90.9% during the third quarter. Barclays PLC now owns 35,294 shares of the company’s stock valued at $461,000 after purchasing an additional 16,806 shares in the last quarter.

About Rhythm Pharmaceuticals (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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