Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the ten analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $62.30.
A number of analysts recently commented on the company. HC Wainwright lifted their price objective on Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Needham & Company LLC lifted their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Canaccord Genuity Group restated a "buy" rating and issued a $80.00 price objective on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. Bank of America lifted their target price on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Finally, TD Cowen increased their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th.
Read Our Latest Stock Analysis on Rhythm Pharmaceuticals
In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 13,281 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $66.44, for a total value of $882,389.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jennifer Kayden Lee sold 66,861 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the sale, the executive vice president now directly owns 972 shares of the company's stock, valued at $64,472.76. This represents a 98.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,681 shares of company stock valued at $8,734,825. Company insiders own 5.60% of the company's stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Castleark Management LLC lifted its stake in Rhythm Pharmaceuticals by 1.3% in the 3rd quarter. Castleark Management LLC now owns 19,260 shares of the company's stock valued at $1,009,000 after acquiring an additional 250 shares in the last quarter. CWM LLC lifted its position in shares of Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company's stock worth $27,000 after purchasing an additional 253 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Rhythm Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company's stock worth $114,000 after purchasing an additional 391 shares during the last quarter. American International Group Inc. grew its position in Rhythm Pharmaceuticals by 3.1% in the first quarter. American International Group Inc. now owns 26,318 shares of the company's stock valued at $1,140,000 after purchasing an additional 781 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in Rhythm Pharmaceuticals in the 2nd quarter valued at $51,000.
Shares of RYTM stock opened at $59.94 on Friday. Rhythm Pharmaceuticals has a 1 year low of $31.52 and a 1 year high of $68.58. The firm's 50 day moving average is $53.35 and its 200-day moving average is $47.16. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of -13.84 and a beta of 2.09.
Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating analysts' consensus estimates of ($0.80) by $0.07. The firm had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business's quarterly revenue was up 47.6% compared to the same quarter last year. During the same period last year, the company earned ($0.76) EPS. On average, equities research analysts forecast that Rhythm Pharmaceuticals will post -4.36 earnings per share for the current fiscal year.
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.
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