Rhythm Pharmaceuticals, Inc. $RYTM Position Trimmed by Polar Capital Holdings Plc

Polar Capital Holdings Plc trimmed its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,185,392 shares of the company’s stock after selling 59,540 shares during the period. Polar Capital Holdings Plc’s holdings in Rhythm Pharmaceuticals were worth $126,884,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RYTM. EverSource Wealth Advisors LLC raised its stake in Rhythm Pharmaceuticals by 303.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Rhythm Pharmaceuticals by 97.2% during the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after purchasing an additional 141 shares during the last quarter. Optiver Holding B.V. raised its position in shares of 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 purchasing an additional 144 shares during the period. SBI Securities Co. Ltd. raised its position in shares of 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 purchasing an additional 145 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after purchasing an additional 118 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Bank of America reduced their price objective on Rhythm Pharmaceuticals from $145.00 to $139.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Wells Fargo & Company raised their target price on Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday. Telsey Advisory Group set a $143.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday, March 12th. Stifel Nicolaus set a $133.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday. Finally, Citizens Jmp dropped their price objective on shares of Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating on the stock in a report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.13.

Rhythm Pharmaceuticals Price Performance

RYTM opened at $89.72 on Wednesday. The stock’s 50 day moving average price is $88.10 and its 200 day moving average price is $95.99. The stock has a market cap of $6.15 billion, a P/E ratio of -28.66 and a beta of 1.91. Rhythm Pharmaceuticals, Inc. has a 12 month low of $60.70 and a 12 month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.03. The company had revenue of $60.11 million during the quarter, compared to analyst estimates of $55.78 million. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The firm’s quarterly revenue was up 83.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.81) EPS. Equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -3.07 EPS for the current 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.