Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $131.8125.

Several research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 21st. Guggenheim boosted their target price on Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Citigroup reissued a “market outperform” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $125.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, March 3rd. Finally, Canaccord Genuity Group boosted their target price on Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Thursday, May 7th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RYTM. EverSource Wealth Advisors LLC lifted its holdings in Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Rhythm Pharmaceuticals by 97.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after buying an additional 141 shares in the last quarter. Optiver Holding B.V. lifted its holdings in Rhythm Pharmaceuticals by 65.2% during the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after buying an additional 144 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Rhythm Pharmaceuticals by 73.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after buying an additional 145 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Rhythm Pharmaceuticals by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after buying an additional 118 shares in the last quarter.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM opened at $84.71 on Thursday. The company has a market capitalization of $5.81 billion, a P/E ratio of -27.06 and a beta of 1.91. Rhythm Pharmaceuticals has a one year low of $60.70 and a one year high of $122.20. The business’s 50 day simple moving average is $87.31 and its 200-day simple moving average is $96.98.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, May 5th. The company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.03. The business had revenue of $60.11 million for the quarter, compared to the consensus estimate of $55.78 million. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.Rhythm Pharmaceuticals’s revenue was up 83.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.81) EPS. On average, sell-side analysts anticipate that Rhythm Pharmaceuticals will post -3.18 EPS for the current fiscal year.

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.