Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Rating) has been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $30.33.
Several equities analysts have recently issued reports on RYTM shares. The Goldman Sachs Group lifted their price objective on shares of Rhythm Pharmaceuticals from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 10th. Bank of America raised shares of Rhythm Pharmaceuticals from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $8.00 to $20.00 in a research note on Friday, August 5th. Morgan Stanley lifted their price objective on shares of Rhythm Pharmaceuticals from $16.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 9th. Finally, Wells Fargo & Company lifted their target price on shares of Rhythm Pharmaceuticals from $22.00 to $35.00 in a research report on Tuesday, August 2nd.
Institutional Trading of Rhythm Pharmaceuticals
A number of institutional investors have recently added to or reduced their stakes in RYTM. Rice Hall James & Associates LLC lifted its stake in shares of Rhythm Pharmaceuticals by 7.0% in the first quarter. Rice Hall James & Associates LLC now owns 136,521 shares of the company’s stock worth $1,573,000 after buying an additional 8,975 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Rhythm Pharmaceuticals in the first quarter worth $61,000. Rock Springs Capital Management LP lifted its stake in shares of 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 worth $14,251,000 after buying an additional 609,846 shares during the last quarter. Opaleye Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the second quarter worth $1,502,000. Finally, Primecap Management Co. CA lifted its stake in shares of Rhythm Pharmaceuticals by 1.1% in the second quarter. Primecap Management Co. CA now owns 6,364,094 shares of the company’s stock worth $26,411,000 after buying an additional 72,103 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.
Rhythm Pharmaceuticals Trading Up 2.2 %
Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The company reported ($0.79) EPS for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.22. Rhythm Pharmaceuticals had a negative net margin of 1,089.07% and a negative return on equity of 72.83%. The company had revenue of $4.28 million for the quarter, compared to the consensus estimate of $5.36 million. On average, equities research analysts predict that Rhythm Pharmaceuticals will post -3.6 earnings per share for the current year.
About Rhythm Pharmaceuticals
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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