Rhythm Pharmaceuticals (NASDAQ:RYTM) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, October 8th. Morgan Stanley reiterated an “overweight” rating and set a $150.00 price target on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 11th. Citizens Jmp raised their target price on Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the stock a “market outperform” rating in a report on Friday, December 12th. Guggenheim boosted their price target on Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Finally, Oppenheimer cut Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.29.

Rhythm Pharmaceuticals Trading Up 3.3%

Shares of RYTM opened at $105.95 on Monday. The firm has a fifty day simple moving average of $106.17 and a two-hundred day simple moving average of $100.79. The firm has a market cap of $7.07 billion, a PE ratio of -34.18 and a beta of 2.00. Rhythm Pharmaceuticals has a 1-year low of $45.90 and a 1-year high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.10). Rhythm Pharmaceuticals had a negative return on equity of 433.21% and a negative net margin of 110.32%.The firm had revenue of $51.30 million during the quarter, compared to the consensus estimate of $50.71 million. As a group, research analysts forecast that Rhythm Pharmaceuticals will post -4.32 EPS for the current fiscal year.

Insider Activity

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 9,748 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $115.24, for a total value of $1,123,359.52. Following the sale, the insider owned 8,509 shares of the company’s stock, valued at $980,577.16. The trade was a 53.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Pamela J. Cramer sold 3,350 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $111.00, for a total value of $371,850.00. Following the transaction, the insider owned 20,814 shares of the company’s stock, valued at $2,310,354. This represents a 13.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 15,913 shares of company stock worth $1,818,963 over the last ninety days. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. grew its stake in shares of Rhythm Pharmaceuticals by 9.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 40,896 shares of the company’s stock worth $4,378,000 after buying an additional 3,691 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after acquiring an additional 118 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in Rhythm Pharmaceuticals in the third quarter worth about $249,000. CIBC Bancorp USA Inc. bought a new stake in Rhythm Pharmaceuticals during the third quarter worth approximately $562,000. Finally, Centaurus Financial Inc. purchased a new stake in Rhythm Pharmaceuticals during the third quarter valued at approximately $241,000.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.