Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its target price upped by investment analysts at Needham & Company LLC from $120.00 to $145.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 21.35% from the stock’s current price.

Several other equities research analysts have also weighed in on RYTM. JMP Securities increased their price objective on shares of Rhythm Pharmaceuticals from $135.00 to $142.00 and gave the stock a “market outperform” rating in a research note on Thursday, September 25th. Wall Street Zen lowered shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, October 8th. Morgan Stanley boosted their price objective on Rhythm Pharmaceuticals from $122.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, HC Wainwright raised their price target on Rhythm Pharmaceuticals from $100.00 to $110.00 and gave the company a “buy” rating in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $116.50.

Rhythm Pharmaceuticals Trading Up 14.0%

Shares of RYTM stock traded up $14.72 during trading hours on Thursday, hitting $119.49. The company’s stock had a trading volume of 2,410,748 shares, compared to its average volume of 666,357. The business has a fifty day moving average of $104.61 and a 200-day moving average of $91.49. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of -38.55 and a beta of 1.96. Rhythm Pharmaceuticals has a twelve month low of $45.90 and a twelve month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.10). The firm had revenue of $51.30 million for the quarter, compared to analyst estimates of $50.71 million. Rhythm Pharmaceuticals had a negative return on equity of 433.21% and a negative net margin of 110.32%. On average, equities analysts expect that Rhythm Pharmaceuticals will post -4.32 EPS for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 9,748 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $115.24, for a total value of $1,123,359.52. Following the completion of the transaction, the insider owned 8,509 shares in the company, valued at $980,577.16. This trade represents a 53.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 27,000 shares of company stock worth $3,064,490. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew 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 purchasing an additional 141 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Rhythm Pharmaceuticals in the 1st quarter worth approximately $34,000. Farther Finance Advisors LLC increased its stake in shares of Rhythm Pharmaceuticals by 1,110.3% during the third 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. Optiver Holding B.V. raised its holdings in shares of Rhythm Pharmaceuticals by 65.2% during the third quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 65.9% during the second quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock valued at $62,000 after acquiring an additional 389 shares in the last quarter.

Rhythm Pharmaceuticals Company Profile

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.