Rhythm Pharmaceuticals (NASDAQ:RYTM) Rating Lowered to “Sell” at Wall Street Zen

Rhythm Pharmaceuticals (NASDAQ:RYTM) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts also recently issued reports on the stock. Citigroup reaffirmed an “outperform” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, September 25th. Oppenheimer cut Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Wednesday. The Goldman Sachs Group cut their price objective on Rhythm Pharmaceuticals from $157.00 to $139.00 and set a “buy” rating for the company in a research note on Friday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, October 8th. Finally, JMP Securities boosted their price target on Rhythm Pharmaceuticals from $135.00 to $142.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.54.

Rhythm Pharmaceuticals Trading Up 1.8%

Shares of RYTM opened at $100.30 on Friday. The firm has a market cap of $6.66 billion, a P/E ratio of -33.32 and a beta of 2.12. Rhythm Pharmaceuticals has a 12 month low of $45.90 and a 12 month high of $116.00. The stock’s 50 day moving average is $103.00 and its two-hundred day moving average is $84.70.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. The business had revenue of $51.30 million for the quarter, compared to analysts’ expectations of $50.71 million. Equities research analysts forecast that Rhythm Pharmaceuticals will post -4.32 EPS for the current year.

Insider Activity

In other news, CAO Christopher Paul German sold 1,500 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $95.00, for a total transaction of $142,500.00. Following the transaction, the chief accounting officer owned 922 shares of the company’s stock, valued at approximately $87,590. The trade was a 61.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Hunter C. Smith sold 3,477 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $96.00, for a total transaction of $333,792.00. Following the completion of the sale, the chief financial officer directly owned 116,915 shares of the company’s stock, valued at $11,223,840. This represents a 2.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 64,760 shares of company stock worth $6,689,531 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently bought and sold shares of RYTM. Vanguard Group Inc. grew its stake in shares of Rhythm Pharmaceuticals by 39.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,996,427 shares of the company’s stock valued at $504,589,000 after buying an additional 1,407,313 shares during the period. Federated Hermes Inc. lifted its holdings in Rhythm Pharmaceuticals by 2.5% in the third quarter. Federated Hermes Inc. now owns 1,727,885 shares of the company’s stock valued at $174,499,000 after acquiring an additional 41,391 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in Rhythm Pharmaceuticals by 21.5% in the second quarter. Westfield Capital Management Co. LP now owns 1,629,468 shares of the company’s stock valued at $102,966,000 after acquiring an additional 288,376 shares during the last quarter. Driehaus Capital Management LLC grew its position in Rhythm Pharmaceuticals by 12.9% in the first quarter. Driehaus Capital Management LLC now owns 1,458,022 shares of the company’s stock worth $77,231,000 after acquiring an additional 167,047 shares during the period. Finally, Geode Capital Management LLC increased its stake in Rhythm Pharmaceuticals by 1.9% during the second quarter. Geode Capital Management LLC now owns 1,311,253 shares of the company’s stock worth $82,868,000 after acquiring an additional 24,085 shares during the last quarter.

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.