BNP Paribas Financial Markets Has $17.62 Million Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

BNP Paribas Financial Markets lessened its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 26.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 164,563 shares of the company’s stock after selling 59,118 shares during the period. BNP Paribas Financial Markets owned about 0.25% of Rhythm Pharmaceuticals worth $17,615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in shares of Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Rhythm Pharmaceuticals by 97.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after purchasing an additional 141 shares in the last quarter. SBI Securities Co. Ltd. grew its position in shares of Rhythm Pharmaceuticals by 73.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 145 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Rhythm Pharmaceuticals by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after purchasing an additional 118 shares in the last quarter. Finally, Optiver Holding B.V. grew its position in shares of Rhythm Pharmaceuticals by 65.2% during the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after purchasing an additional 144 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Citizens Jmp reduced their price target on shares of Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating on the stock in a research report on Tuesday, March 17th. Royal Bank Of Canada increased their price target on shares of Rhythm Pharmaceuticals from $136.00 to $137.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Jefferies Financial Group restated a “buy” rating and issued a $125.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, March 3rd. Finally, Guggenheim raised their target price on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the company a “buy” rating in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $131.81.

Rhythm Pharmaceuticals Stock Performance

RYTM stock opened at $86.40 on Friday. The company has a fifty day moving average price of $87.45 and a 200-day moving average price of $96.82. The company has a market capitalization of $5.92 billion, a P/E ratio of -27.60 and a beta of 1.91. Rhythm Pharmaceuticals, Inc. has a 52-week low of $60.70 and a 52-week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The firm had revenue of $60.11 million during the quarter, compared to the consensus estimate of $55.78 million. During the same quarter last year, the firm earned ($0.81) earnings per share. The company’s revenue for the quarter was up 83.8% on a year-over-year basis. As a group, sell-side analysts forecast that Rhythm Pharmaceuticals, Inc. will post -3.07 earnings per share for the current fiscal year.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.