Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives $138.29 Average Price Target from Brokerages

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $138.2857.

A number of equities research analysts have commented on RYTM shares. Wall Street Zen raised shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Citigroup reissued a “market outperform” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 3rd. TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 21st. Finally, Stifel Nicolaus set a $133.00 price objective on Rhythm Pharmaceuticals in a research report on Monday, June 15th.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM opened at $106.60 on Friday. The firm’s 50-day moving average price is $97.65 and its 200-day moving average price is $95.81. Rhythm Pharmaceuticals has a 52-week low of $74.50 and a 52-week high of $122.20. The company has a market cap of $7.31 billion, a PE ratio of -34.06 and a beta of 1.88.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.03. The firm had revenue of $60.11 million during the quarter, compared to analysts’ expectations of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The firm’s quarterly revenue was up 83.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.81) earnings per share. As a group, equities research analysts anticipate that Rhythm Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 37,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the completion of the sale, the director directly owned 7,000 shares in the company, valued at $702,240. The trade was a 84.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 200 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in Rhythm Pharmaceuticals by 73.2% during the fourth 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. GAMMA Investing LLC increased its holdings in Rhythm Pharmaceuticals by 48.6% during the fourth 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 last quarter. Smartleaf Asset Management LLC raised its position in Rhythm Pharmaceuticals by 39.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after acquiring an additional 113 shares during the period. Finally, Covestor Ltd raised its position in Rhythm Pharmaceuticals by 328.9% in the fourth quarter. Covestor Ltd now owns 579 shares of the company’s stock worth $62,000 after acquiring an additional 444 shares during the period.

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.