Rhythm Pharmaceuticals (NASDAQ:RYTM) Earns Market Outperform Rating from JMP Securities

Rhythm Pharmaceuticals (NASDAQ:RYTMGet Free Report)‘s stock had its “market outperform” rating reissued by investment analysts at JMP Securities in a note issued to investors on Thursday,Benzinga reports. They presently have a $84.00 price target on the stock. JMP Securities’ target price suggests a potential upside of 33.91% from the stock’s previous close.

Several other research firms also recently issued reports on RYTM. Needham & Company LLC upped their target price on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Bank of America raised Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Monday, April 7th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Wells Fargo & Company upped their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an “overweight” rating in a research report on Monday, April 7th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of “Buy” and an average price target of $77.31.

View Our Latest Research Report on Rhythm Pharmaceuticals

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM opened at $62.73 on Thursday. The stock’s fifty day moving average price is $62.45 and its 200 day moving average price is $58.12. Rhythm Pharmaceuticals has a 1 year low of $39.46 and a 1 year high of $69.89. The company has a market cap of $3.99 billion, a price-to-earnings ratio of -22.32 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTMGet Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative net margin of 123.26% and a negative return on equity of 739.62%. The firm had revenue of $37.72 million during the quarter, compared to analyst estimates of $40.43 million. During the same period in the previous year, the company earned ($2.35) earnings per share. Rhythm Pharmaceuticals’s revenue was up 25.9% on a year-over-year basis. Research analysts expect that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Christopher Paul German sold 2,069 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $67.19, for a total transaction of $139,016.11. Following the sale, the chief accounting officer now directly owns 1,889 shares of the company’s stock, valued at $126,921.91. This represents a 52.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Yann Mazabraud sold 17,750 shares of the stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $60.99, for a total transaction of $1,082,572.50. Following the sale, the executive vice president now directly owns 22,620 shares in the company, valued at approximately $1,379,593.80. The trade was a 43.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,386 shares of company stock valued at $3,845,167. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RYTM. SRS Capital Advisors Inc. raised its holdings in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after acquiring an additional 400 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Rhythm Pharmaceuticals in the 1st quarter valued at about $34,000. SBI Securities Co. Ltd. acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $37,000. State of Wyoming acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $61,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $72,000.

About Rhythm Pharmaceuticals

(Get Free Report)

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.

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Analyst Recommendations for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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