Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Given Average Rating of “Moderate Buy” by Brokerages

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $114.8571.

RYTM has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. The Goldman Sachs Group dropped their target price on Rhythm Pharmaceuticals from $157.00 to $139.00 and set a “buy” rating on the stock in a report on Friday, October 17th. HC Wainwright lifted their price target on Rhythm Pharmaceuticals from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Guggenheim upped their price objective on Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, JMP Securities raised their target price on Rhythm Pharmaceuticals from $135.00 to $142.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 25th.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM opened at $104.63 on Thursday. Rhythm Pharmaceuticals has a 1 year low of $45.90 and a 1 year high of $116.00. The stock has a market capitalization of $6.98 billion, a PE ratio of -33.75 and a beta of 1.96. The stock has a 50-day simple moving average of $104.19 and a 200-day simple moving average of $90.03.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). The firm had revenue of $51.30 million for the quarter, compared to analysts’ expectations of $50.71 million. Rhythm Pharmaceuticals had a negative return on equity of 433.21% and a negative net margin of 110.32%. Analysts predict that Rhythm Pharmaceuticals will post -4.32 EPS for the current year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 9,748 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $115.24, for a total transaction of $1,123,359.52. Following the sale, the insider owned 8,509 shares of the company’s stock, valued at approximately $980,577.16. This trade represents a 53.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 27,000 shares of company stock worth $3,064,490 over the last 90 days. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in Rhythm Pharmaceuticals by 97.2% in the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after acquiring an additional 141 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Rhythm Pharmaceuticals during the first quarter worth about $34,000. Farther Finance Advisors LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 1,110.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock valued at $35,000 after purchasing an additional 322 shares during the last quarter. Optiver Holding B.V. boosted its position in shares of Rhythm Pharmaceuticals by 65.2% in the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after purchasing an additional 144 shares during the period. Finally, Osaic Holdings Inc. grew its stake in Rhythm Pharmaceuticals by 65.9% during the 2nd quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock worth $62,000 after buying an additional 389 shares during the last quarter.

About Rhythm Pharmaceuticals

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.