Zacks: Rhythm Pharmaceuticals, Inc. (RYTM) Receives Average Recommendation of “Buy” from Brokerages
Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has received a consensus broker rating score of 1.75 (Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company.
Brokerages have set a 1-year consensus target price of $31.25 for the company, according to Zacks. Zacks has also given Rhythm Pharmaceuticals an industry rank of 101 out of 265 based on the ratings given to related companies.
A number of equities research analysts have weighed in on RYTM shares. Morgan Stanley started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 30th. They set an “equal weight” rating and a $23.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price target on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 14th. Bank of America started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 30th. They set a “buy” rating and a $30.00 price target on the stock. Finally, Cowen started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 30th. They set an “outperform” rating and a $40.00 price target on the stock.
Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, November 14th. The company reported ($1.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($1.38). equities research analysts anticipate that Rhythm Pharmaceuticals will post -1.63 earnings per share for the current year.
In related news, major shareholder S.A. Ipsen acquired 20,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was bought at an average cost of $17.00 per share, with a total value of $340,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Meeker acquired 25,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were bought at an average cost of $17.00 per share, with a total value of $425,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,285,000 shares of company stock valued at $21,845,000.
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Rhythm Pharmaceuticals Company Profile
Rhythm Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of peptide therapeutics for the treatment of rare genetic deficiencies that result in life-threatening metabolic disorders. The Company’s lead peptide product candidate is setmelanotide, a potent, first-in-class melanocortin-4 receptor, or MC4R, agonist for the treatment of rare genetic disorders of obesity.
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