Brokerages predict that Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) will announce ($0.56) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Rhythm Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.65) and the highest is ($0.46). Rhythm Pharmaceuticals reported earnings per share of ($0.41) in the same quarter last year, which would indicate a negative year over year growth rate of 36.6%. The company is scheduled to announce its next earnings report on Monday, March 11th.
On average, analysts expect that Rhythm Pharmaceuticals will report full year earnings of ($2.20) per share for the current year, with EPS estimates ranging from ($2.29) to ($2.10). For the next fiscal year, analysts forecast that the business will post earnings of ($2.56) per share, with EPS estimates ranging from ($3.66) to ($1.93). Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Rhythm Pharmaceuticals.
Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Friday, November 9th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.06).
A number of analysts have recently commented on RYTM shares. BidaskClub raised shares of Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. ValuEngine raised shares of Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 17th. Needham & Company LLC set a $42.00 price objective on shares of Rhythm Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, December 14th. Stifel Nicolaus reaffirmed a “hold” rating and set a $36.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Sunday, November 11th. Finally, Zacks Investment Research cut shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, November 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $38.25.
In other Rhythm Pharmaceuticals news, insider Der Ploeg Leonardus H.T. Van sold 38,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $30.09, for a total value of $1,143,420.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Keith Michael Gottesdiener sold 16,500 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $30.08, for a total transaction of $496,320.00. The disclosure for this sale can be found here. Insiders own 4.93% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers purchased a new stake in shares of Rhythm Pharmaceuticals in the 2nd quarter valued at approximately $357,000. Bank of New York Mellon Corp increased its position in shares of Rhythm Pharmaceuticals by 55.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,793 shares of the company’s stock valued at $1,181,000 after purchasing an additional 13,462 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Rhythm Pharmaceuticals by 49.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 47,595 shares of the company’s stock valued at $1,488,000 after purchasing an additional 15,695 shares during the last quarter. Swiss National Bank purchased a new stake in shares of Rhythm Pharmaceuticals in the 2nd quarter valued at approximately $894,000. Finally, BlackRock Inc. increased its position in shares of Rhythm Pharmaceuticals by 93.8% in the 2nd quarter. BlackRock Inc. now owns 747,669 shares of the company’s stock valued at $23,371,000 after purchasing an additional 361,867 shares during the last quarter. Institutional investors own 90.42% of the company’s stock.
RYTM stock opened at $29.01 on Monday. The stock has a market cap of $998.94 million, a PE ratio of -10.25 and a beta of 1.85. Rhythm Pharmaceuticals has a 52 week low of $16.80 and a 52 week high of $37.23.
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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