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

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have received a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $142.4375.

A number of brokerages have weighed in on RYTM. Canaccord Genuity Group set a $154.00 price target on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 5th. Wells Fargo & Company increased their price objective on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Royal Bank Of Canada raised their price objective on Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. boosted their price target on Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, July 17th.

Rhythm Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ:RYTM opened at $115.48 on Tuesday. The company has a market cap of $7.91 billion, a P/E ratio of -37.13 and a beta of 1.92. The business has a fifty day simple moving average of $105.44 and a 200-day simple moving average of $96.45. Rhythm Pharmaceuticals has a 52 week low of $74.50 and a 52 week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative return on equity of 159.87% and a negative net margin of 85.59%.The firm had revenue of $71.25 million for the quarter, compared to the consensus estimate of $67.66 million. During the same period in the prior year, the business posted ($0.75) earnings per share. The firm’s revenue for the quarter was up 46.9% compared to the same quarter last year. Sell-side analysts expect that Rhythm Pharmaceuticals will post -2.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, EVP Jennifer Kayden Lee sold 75,834 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $117.38, for a total transaction of $8,901,394.92. Following the completion of the sale, the executive vice president owned 54,233 shares in the company, valued at $6,365,869.54. This trade represents a 58.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Yann Mazabraud sold 57,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $116.15, for a total value of $6,620,550.00. Following the sale, the executive vice president owned 55,655 shares of the company’s stock, valued at approximately $6,464,328.25. This trade represents a 50.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 169,834 shares of company stock worth $19,233,785. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of Rhythm Pharmaceuticals by 73.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 145 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Rhythm Pharmaceuticals by 36.3% in the 2nd quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Rhythm Pharmaceuticals by 39.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after purchasing an additional 113 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new position in Rhythm Pharmaceuticals in the second quarter worth about $51,000.

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.