Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System raised its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Rating) by 11.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,449 shares of the company’s stock after purchasing an additional 1,178 shares during the quarter. Arizona State Retirement System’s holdings in Rhythm Pharmaceuticals were worth $333,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. New York State Common Retirement Fund grew its stake in Rhythm Pharmaceuticals by 241.4% during the 3rd quarter. New York State Common Retirement Fund now owns 1,072 shares of the company’s stock valued at $26,000 after purchasing an additional 758 shares in the last quarter. UBS Group AG grew its stake in Rhythm Pharmaceuticals by 1,401.4% during the 2nd quarter. UBS Group AG now owns 7,507 shares of the company’s stock valued at $31,000 after purchasing an additional 7,007 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 1st quarter worth approximately $39,000. Great West Life Assurance Co. Can acquired a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter worth approximately $58,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Rhythm Pharmaceuticals by 75.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 20,586 shares of the company’s stock valued at $85,000 after acquiring an additional 8,822 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RYTM shares. The Goldman Sachs Group raised their price objective on Rhythm Pharmaceuticals from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Morgan Stanley raised their price objective on Rhythm Pharmaceuticals from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 2nd. LADENBURG THALM/SH SH restated a “buy” rating and set a $35.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Thursday, March 2nd. Canaccord Genuity Group raised their price objective on Rhythm Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $32.00 target price on shares of Rhythm Pharmaceuticals in a research note on Thursday, March 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $36.00.

Rhythm Pharmaceuticals Stock Up 1.6 %

Shares of NASDAQ RYTM opened at $16.77 on Monday. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $3.04 and a fifty-two week high of $34.99. The firm’s 50-day simple moving average is $18.27 and its 200 day simple moving average is $24.02. The stock has a market cap of $953.37 million, a P/E ratio of -5.01 and a beta of 1.73.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.21). The company had revenue of $11.50 million for the quarter, compared to the consensus estimate of $12.12 million. Rhythm Pharmaceuticals had a negative net margin of 537.16% and a negative return on equity of 75.16%. Rhythm Pharmaceuticals’s revenue for the quarter was up 666.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.05) earnings per share. On average, sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -3.27 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals Company Profile

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Rhythm Pharmaceuticals, Inc is a biopharmaceutical company, which engages in developing and commercializing peptide therapeutics for the treatment of gastrointestinal diseases and genetic deficiencies. The firm focuses on the treatment for Prader-Willi Syndrome and Pro-Opiomelanocortin deficiency obesity.