Rhythm Pharmaceuticals Inc (RYTM) Given Consensus Rating of “Buy” by Analysts

Shares of Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) have received a consensus rating of “Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $39.33.

Several analysts have issued reports on RYTM shares. Morgan Stanley started coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, September 7th. They issued an “overweight” rating for the company. Zacks Investment Research downgraded shares of Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Needham & Company LLC set a $42.00 price objective on shares of Rhythm Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, August 9th. ValuEngine raised shares of Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 17th. Finally, Stifel Nicolaus started coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, September 14th. They issued a “hold” rating and a $36.00 price objective for the company.

In other news, CEO Keith Michael Gottesdiener sold 16,500 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $30.08, for a total transaction of $496,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Der Ploeg Leonardus H.T. Van sold 31,800 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $29.80, for a total transaction of $947,640.00. The disclosure for this sale can be found here. In the last three months, insiders sold 86,300 shares of company stock valued at $2,587,380. 4.93% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of RYTM. RA Capital Management LLC bought a new stake in shares of Rhythm Pharmaceuticals during the second quarter valued at approximately $48,195,000. Janus Henderson Group PLC raised its stake in shares of Rhythm Pharmaceuticals by 109.4% during the second quarter. Janus Henderson Group PLC now owns 2,291,785 shares of the company’s stock valued at $71,641,000 after acquiring an additional 1,197,165 shares in the last quarter. Baker BROS. Advisors LP raised its stake in shares of Rhythm Pharmaceuticals by 32.2% during the second quarter. Baker BROS. Advisors LP now owns 2,708,200 shares of the company’s stock valued at $84,658,000 after acquiring an additional 659,180 shares in the last quarter. FMR LLC raised its stake in shares of Rhythm Pharmaceuticals by 40.9% during the second quarter. FMR LLC now owns 1,825,634 shares of the company’s stock valued at $57,069,000 after acquiring an additional 529,834 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Rhythm Pharmaceuticals by 52.7% during the third quarter. BlackRock Inc. now owns 1,141,503 shares of the company’s stock valued at $33,297,000 after acquiring an additional 393,834 shares in the last quarter. 87.08% of the stock is owned by hedge funds and other institutional investors.

RYTM opened at $29.35 on Friday. The stock has a market capitalization of $1.02 billion and a P/E ratio of -10.37. Rhythm Pharmaceuticals has a 12 month low of $16.80 and a 12 month high of $37.23.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Wednesday, August 8th. The company reported ($0.52) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.04). As a group, analysts expect that Rhythm Pharmaceuticals will post -1.94 EPS for the current year.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of peptide therapeutics for the treatment of rare genetic disorders of obesity in the United States. Its peptide candidates include Setmelanotide, a melanocortin-4 receptor agonist, which is in Phase III clinical trial to treat POMC and leptin receptor deficiency obesity; and Phase II clinical trial for Bardet-Biedl and Alström syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.

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