Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Given Average Rating of “Moderate Buy” by Analysts

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have been given a consensus recommendation of “Moderate Buy” by the eighteen research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $131.2857.

RYTM has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Canaccord Genuity Group lifted their price target on Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Needham & Company LLC increased their price objective on Rhythm Pharmaceuticals from $145.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, January 22nd. Finally, Oppenheimer lowered Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th.

Insider Buying and Selling

In other news, CFO Hunter C. Smith sold 1,592 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $98.23, for a total transaction of $156,382.16. Following the transaction, the chief financial officer directly owned 118,466 shares of the company’s stock, valued at approximately $11,636,915.18. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pamela J. Cramer sold 3,350 shares of Rhythm Pharmaceuticals stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $111.00, for a total value of $371,850.00. Following the completion of the transaction, the insider owned 20,814 shares in the company, valued at approximately $2,310,354. This represents a 13.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 17,049 shares of company stock valued at $1,783,165. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Rhythm Pharmaceuticals by 97.2% in the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after buying an additional 141 shares during the period. SBI Securities Co. Ltd. raised its holdings in Rhythm Pharmaceuticals by 73.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 145 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Rhythm Pharmaceuticals by 1,110.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock valued at $35,000 after buying an additional 322 shares during the period. Finally, GAMMA Investing LLC boosted its position in Rhythm Pharmaceuticals by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after buying an additional 118 shares during the period.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $98.07 on Tuesday. Rhythm Pharmaceuticals has a 1 year low of $45.90 and a 1 year high of $122.20. The firm has a market cap of $6.55 billion, a PE ratio of -31.64 and a beta of 2.00. The company has a 50 day simple moving average of $106.01 and a two-hundred day simple moving average of $103.15.

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.