Rhythm Pharmaceuticals (NASDAQ:RYTM) Issues Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Rhythm Pharmaceuticals (NASDAQ:RYTM) issued its quarterly earnings results on Tuesday. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.10), Zacks reports. The company had revenue of $51.30 million during the quarter, compared to analyst estimates of $50.71 million. Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%.

Rhythm Pharmaceuticals Trading Down 0.1%

Shares of NASDAQ:RYTM traded down $0.09 during trading on Thursday, hitting $99.38. 219,164 shares of the stock were exchanged, compared to its average volume of 653,046. The company has a fifty day moving average price of $103.17 and a two-hundred day moving average price of $84.33. The company has a market cap of $6.60 billion, a PE ratio of -33.08 and a beta of 2.12. Rhythm Pharmaceuticals has a 12-month low of $45.90 and a 12-month high of $116.00.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RYTM. HC Wainwright boosted their price target on Rhythm Pharmaceuticals from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Oppenheimer cut Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Guggenheim boosted their price target on Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Wells Fargo & Company boosted their price target on Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Citigroup reiterated an “outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.54.

Insider Transactions at Rhythm Pharmaceuticals

In other news, CFO Hunter C. Smith sold 3,477 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $96.00, for a total transaction of $333,792.00. Following the sale, the chief financial officer owned 116,915 shares of the company’s stock, valued at $11,223,840. The trade was a 2.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Christopher Paul German sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $95.00, for a total value of $142,500.00. Following the sale, the chief accounting officer directly owned 922 shares in the company, valued at $87,590. This trade represents a 61.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 64,760 shares of company stock valued at $6,689,531 in the last quarter. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Captrust Financial Advisors boosted its stake in shares of Rhythm Pharmaceuticals by 0.7% during the 2nd quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock worth $1,104,000 after acquiring an additional 114 shares in the last quarter. California State Teachers Retirement System lifted its stake in Rhythm Pharmaceuticals by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 42,917 shares of the company’s stock valued at $2,712,000 after buying an additional 196 shares in the last quarter. E Fund Management Co. Ltd. lifted its stake in Rhythm Pharmaceuticals by 6.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,761 shares of the company’s stock valued at $364,000 after buying an additional 365 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Rhythm Pharmaceuticals by 65.9% in the 2nd quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock valued at $62,000 after buying an additional 389 shares in the last quarter. Finally, State of Wyoming purchased a new stake in Rhythm Pharmaceuticals in the 2nd quarter valued at approximately $67,000.

About Rhythm Pharmaceuticals

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.