Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $133.1250.

RYTM has been the subject of several recent research reports. Citigroup reaffirmed a “market outperform” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 3rd. Guggenheim increased their price target on Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 21st. Wall Street Zen raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Wells Fargo & Company increased their price target on Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, June 15th.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings in shares of Rhythm Pharmaceuticals by 180.0% during the first quarter. Bank of America Corp DE now owns 628,667 shares of the company’s stock worth $54,675,000 after purchasing an additional 404,183 shares during the period. ADAR1 Capital Management LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 311.8% during the first quarter. ADAR1 Capital Management LLC now owns 211,450 shares of the company’s stock worth $18,390,000 after purchasing an additional 160,101 shares during the period. Amundi acquired a new stake in shares of Rhythm Pharmaceuticals during the first quarter worth $349,000. EverSource Wealth Advisors LLC lifted its holdings in Rhythm Pharmaceuticals by 106.4% in the first quarter. EverSource Wealth Advisors LLC now owns 549 shares of the company’s stock valued at $48,000 after acquiring an additional 283 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in Rhythm Pharmaceuticals by 22.9% in the first quarter. California State Teachers Retirement System now owns 65,806 shares of the company’s stock valued at $5,723,000 after acquiring an additional 12,269 shares during the period.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM opened at $96.79 on Monday. The stock has a fifty day moving average price of $88.70 and a 200 day moving average price of $95.77. Rhythm Pharmaceuticals has a 1-year low of $60.80 and a 1-year high of $122.20. The company has a market cap of $6.63 billion, a PE ratio of -30.92 and a beta of 1.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The firm had revenue of $60.11 million during the quarter, compared to the consensus estimate of $55.78 million. During the same period last year, the company earned ($0.81) earnings per share. The company’s revenue for the quarter was up 83.8% on a year-over-year basis. Analysts anticipate that Rhythm Pharmaceuticals will post -3.11 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.