Rhythm Pharmaceuticals (NASDAQ:RYTM) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report released on Friday, The Fly reports.
A number of other research firms also recently weighed in on RYTM. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Zacks Investment Research upgraded HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. LADENBURG THALM/SH SH restated a “buy” rating and issued a $43.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, May 3rd. BidaskClub upgraded DENTSPLY SIRONA from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $42.00 price target on shares of Rhythm Pharmaceuticals in a research note on Sunday, May 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Rhythm Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $38.67.
Shares of RYTM stock opened at $20.66 on Friday. The company has a 50 day moving average of $23.21. Rhythm Pharmaceuticals has a twelve month low of $20.52 and a twelve month high of $34.97. The stock has a market cap of $748.90 million, a P/E ratio of -8.64 and a beta of 0.79. The company has a quick ratio of 18.32, a current ratio of 18.32 and a debt-to-equity ratio of 0.02.
Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Friday, May 3rd. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.08). Research analysts expect that Rhythm Pharmaceuticals will post -3.39 EPS for the current year.
In related news, insider Der Ploeg Leonardus H.T. Van sold 10,000 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $25.21, for a total value of $252,100.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.45% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of RYTM. BlackRock Inc. raised its holdings in Rhythm Pharmaceuticals by 36.2% during the fourth quarter. BlackRock Inc. now owns 1,554,706 shares of the company’s stock worth $41,790,000 after purchasing an additional 413,203 shares during the last quarter. FMR LLC raised its holdings in Rhythm Pharmaceuticals by 4.0% during the fourth quarter. FMR LLC now owns 1,690,007 shares of the company’s stock worth $45,427,000 after purchasing an additional 65,213 shares during the last quarter. Geode Capital Management LLC raised its holdings in Rhythm Pharmaceuticals by 30.2% during the fourth quarter. Geode Capital Management LLC now owns 233,894 shares of the company’s stock worth $6,287,000 after purchasing an additional 54,247 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in Rhythm Pharmaceuticals during the fourth quarter worth $1,447,000. Finally, Spark Investment Management LLC acquired a new position in Rhythm Pharmaceuticals during the first quarter worth $1,060,000. 89.63% of the stock is owned by hedge funds and other institutional investors.
Rhythm Pharmaceuticals Company Profile
Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic disorders that result in life-threatening metabolic disorders. The company's lead product candidate is setmelanotide, a melanocortin-4 receptor agonist peptide, which is in Phase III clinical trials to treat pro-opiomelanocortin (POMC) and leptin receptor deficiency obesity, and Bardet-Biedl and Alström syndrome; and is in Phase II clinical trials for treating POMC heterozygous deficiency obesity and POMC epigenetic disorders.
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