BNP Paribas Financial Markets Acquires 10,882 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

BNP Paribas Financial Markets grew its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 307.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,425 shares of the company’s stock after acquiring an additional 10,882 shares during the quarter. BNP Paribas Financial Markets’ holdings in Rhythm Pharmaceuticals were worth $756,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Rhythm Pharmaceuticals by 348.9% in the 2nd quarter. SG Americas Securities LLC now owns 33,727 shares of the company’s stock valued at $1,385,000 after purchasing an additional 26,214 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Rhythm Pharmaceuticals by 241.9% in the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock valued at $1,707,000 after acquiring an additional 23,054 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its position in shares of Rhythm Pharmaceuticals by 8.3% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock worth $97,366,000 after purchasing an additional 181,125 shares in the last quarter. Creative Planning acquired a new stake in Rhythm Pharmaceuticals in the third quarter valued at approximately $450,000. Finally, Intech Investment Management LLC bought a new stake in Rhythm Pharmaceuticals during the 3rd quarter valued at $649,000.

Rhythm Pharmaceuticals Trading Down 1.0 %

NASDAQ RYTM opened at $57.15 on Thursday. The stock has a 50-day moving average of $55.41 and a 200-day moving average of $49.15. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The firm has a market cap of $3.51 billion, a PE ratio of -13.20 and a beta of 2.14.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. The firm had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.76) EPS. As a group, equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.36 earnings per share for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In other news, EVP Jennifer Kayden Lee sold 66,861 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the transaction, the executive vice president now directly owns 972 shares of the company’s stock, valued at $64,472.76. This represents a 98.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Shulman sold 13,281 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $66.44, for a total transaction of $882,389.64. The disclosure for this sale can be found here. Insiders have sold a total of 116,581 shares of company stock valued at $7,285,752 in the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Guggenheim assumed coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a “buy” rating and a $70.00 price objective for the company. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. The Goldman Sachs Group lifted their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. HC Wainwright restated a “buy” rating and set a $69.00 target price on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 4th. Finally, Needham & Company LLC raised their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.70.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare 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.