Rhythm Pharmaceuticals (NASDAQ:RYTM) Price Target Raised to $167.00

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price objective raised by Citizens Jmp from $141.00 to $167.00 in a research note released on Friday,Benzinga reports. They currently have a market outperform rating on the stock.

RYTM has been the topic of a number of other reports. Oppenheimer downgraded shares of Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, October 8th. Morgan Stanley restated an “overweight” rating and set a $150.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday. Needham & Company LLC upped their price target on shares of Rhythm Pharmaceuticals from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, HC Wainwright increased their price objective on Rhythm Pharmaceuticals from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.27.

Rhythm Pharmaceuticals Trading Down 3.5%

NASDAQ:RYTM opened at $113.56 on Friday. The business’s fifty day moving average price is $105.31 and its 200 day moving average price is $92.49. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of -36.63 and a beta of 1.96. Rhythm Pharmaceuticals has a 1-year low of $45.90 and a 1-year high of $122.20.

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 the consensus estimate of ($0.72) by ($0.10). The business had revenue of $51.30 million for the quarter, compared to analysts’ expectations of $50.71 million. Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. Equities analysts forecast that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Joseph Shulman sold 9,748 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $115.24, for a total value of $1,123,359.52. Following the transaction, the insider directly owned 8,509 shares in the company, valued at approximately $980,577.16. This trade represents a 53.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders sold 27,000 shares of company stock valued at $3,064,490. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RYTM. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rhythm Pharmaceuticals by 4.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,568 shares of the company’s stock worth $259,000 after buying an additional 110 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Rhythm Pharmaceuticals by 0.7% in the second quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock worth $1,104,000 after acquiring an additional 114 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Rhythm Pharmaceuticals by 97.2% during the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after acquiring an additional 141 shares during the period. Optiver Holding B.V. raised its stake in Rhythm Pharmaceuticals by 65.2% during 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 last quarter. Finally, Teacher Retirement System of Texas raised its stake in Rhythm Pharmaceuticals by 1.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,960 shares of the company’s stock valued at $1,309,000 after purchasing an additional 188 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.