Rhythm Pharmaceuticals (NASDAQ:RYTM) Upgraded at Zacks Research

Zacks Research upgraded shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a strong sell rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

RYTM has been the topic of several other research reports. Needham & Company LLC boosted their target price on shares of Rhythm Pharmaceuticals from $145.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price target on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 11th. Wells Fargo & Company increased their price objective on shares of Rhythm Pharmaceuticals from $129.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Citigroup restated an “outperform” rating on shares of Rhythm Pharmaceuticals in a report on Friday, December 12th. Finally, HC Wainwright upped their price objective on Rhythm Pharmaceuticals from $123.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.50.

Rhythm Pharmaceuticals Stock Up 1.8%

RYTM stock opened at $103.16 on Tuesday. The business’s 50-day moving average price is $105.69 and its 200-day moving average price is $103.23. The stock has a market cap of $6.88 billion, a P/E ratio of -33.28 and a beta of 2.00. Rhythm Pharmaceuticals has a twelve month low of $45.90 and a twelve month high of $122.20.

Insider Activity at Rhythm Pharmaceuticals

In other news, CFO Hunter C. Smith sold 4,385 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $101.26, for a total value of $444,025.10. Following the completion of the sale, the chief financial officer directly owned 110,512 shares in the company, valued at $11,190,445.12. This represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pamela J. Cramer sold 3,350 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, December 11th. The stock was 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 in the company, valued at approximately $2,310,354. The trade was 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 have sold 25,003 shares of company stock worth $2,589,015. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Hedge funds have recently modified their holdings of the company. RA Capital Management L.P. boosted its holdings in Rhythm Pharmaceuticals by 17.3% in the 4th quarter. RA Capital Management L.P. now owns 6,666,837 shares of the company’s stock valued at $713,618,000 after purchasing an additional 985,478 shares during the last quarter. Vanguard Group Inc. increased its holdings in Rhythm Pharmaceuticals by 24.3% in the 4th quarter. Vanguard Group Inc. now owns 6,210,916 shares of the company’s stock valued at $664,816,000 after purchasing an additional 1,214,489 shares during the last quarter. State Street Corp raised its position in Rhythm Pharmaceuticals by 8.4% in the fourth quarter. State Street Corp now owns 2,198,615 shares of the company’s stock valued at $235,340,000 after purchasing an additional 169,964 shares during the period. Federated Hermes Inc. lifted its stake in Rhythm Pharmaceuticals by 2.5% during the third quarter. Federated Hermes Inc. now owns 1,727,885 shares of the company’s stock worth $174,499,000 after purchasing an additional 41,391 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of Rhythm Pharmaceuticals by 21.5% during the second quarter. Westfield Capital Management Co. LP now owns 1,629,468 shares of the company’s stock worth $102,966,000 after buying an additional 288,376 shares during the period.

Key Rhythm Pharmaceuticals News

Here are the key news stories impacting Rhythm Pharmaceuticals this week:

• Positive Sentiment: Imcivree revenue and new commercial targets are changing the story for Rhythm — coverage highlights accelerating Imcivree sales and updated company targets that support a higher growth outlook and valuation. How The Rhythm Pharmaceuticals RYTM Story Is Shifting With Imcivree Revenue And New Targets
• Positive Sentiment: Zacks expects Rhythm to beat upcoming earnings estimates, citing the right combination of revenue momentum and analyst expectations — this raises the odds of an upside surprise at the next report. RYTM Expected to Beat Earnings Estimates
• Positive Sentiment: Zacks upgraded its rating on RYTM from “strong sell” to “hold,” signaling improving analyst sentiment after recent commercial/financial developments. Zacks.com
• Neutral Sentiment: Rhythm is scheduled to report quarterly results soon — the upcoming earnings release is a near-term catalyst that could increase volatility depending on top-line Imcivree performance and guidance. Projected to Post Quarterly Earnings
• Negative Sentiment: Insider selling: CFO Hunter C. Smith sold 3,569 shares on Feb. 17 (avg ~$101.38) and 4,385 shares on Feb. 19 (avg ~$101.26), reducing his holdings by a few percent in each filing — insider sales can weigh on sentiment even if amounts are modest relative to total float. SEC filing: Insider Sale SEC Filing

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.