Wall Street analysts predict that Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Rating) will post $2.90 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Rhythm Pharmaceuticals’ earnings. The highest sales estimate is $3.50 million and the lowest is $2.30 million. Rhythm Pharmaceuticals reported sales of $270,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 974.1%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.
On average, 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 fiscal year, analysts anticipate that the firm will report 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 issued its quarterly earnings data on Tuesday, May 3rd. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.07). Rhythm Pharmaceuticals had a negative return on equity of 55.66% and a negative net margin of 3,598.16%. During the same period in the previous year, the business earned $0.90 earnings per share.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RYTM. Federated Hermes Inc. grew its holdings in shares of Rhythm Pharmaceuticals by 80.7% during the first quarter. Federated Hermes Inc. now owns 5,065,113 shares of the company’s stock worth $58,350,000 after buying an additional 2,261,778 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Rhythm Pharmaceuticals by 172.0% in the third quarter. Goldman Sachs Group Inc. now owns 2,905,319 shares of the company’s stock valued at $37,943,000 after purchasing an additional 1,837,108 shares during the period. Rock Springs Capital Management LP lifted its position in Rhythm Pharmaceuticals by 97.2% in the first quarter. Rock Springs Capital Management LP now owns 1,237,026 shares of the company’s stock valued at $14,251,000 after purchasing an additional 609,846 shares during the period. Morgan Stanley lifted its position in Rhythm Pharmaceuticals by 342.8% in 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 during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Rhythm Pharmaceuticals by 36.3% during 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.
NASDAQ:RYTM opened at $3.12 on Friday. The stock’s fifty day moving average is $8.18 and its two-hundred day moving average is $9.04. Rhythm Pharmaceuticals has a 52 week low of $3.06 and a 52 week high of $22.48. The stock has a market capitalization of $157.23 million, a price-to-earnings ratio of -0.95 and a beta of 1.69.
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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