Rhythm Pharmaceuticals, Inc. (RYTM) Announces Earnings Results, Misses Expectations By $1.38 EPS

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) posted its quarterly earnings data on Tuesday. The company reported ($1.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($1.38), Bloomberg Earnings reports.

Rhythm Pharmaceuticals (NASDAQ RYTM) traded down $1.44 during trading hours on Wednesday, hitting $24.02. The company had a trading volume of 87,200 shares, compared to its average volume of 277,446. Rhythm Pharmaceuticals has a 12-month low of $21.38 and a 12-month high of $33.81.

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In other news, insider Bros. Advisors Lp Baker purchased 885,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The stock was bought at an average cost of $17.00 per share, with a total value of $15,045,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Meeker purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were purchased at an average cost of $17.00 per share, with a total value of $425,000.00. The disclosure for this purchase can be found here. Insiders have purchased 1,285,000 shares of company stock valued at $21,845,000 in the last quarter.

RYTM has been the subject of a number of research reports. Cowen and Company initiated coverage on Rhythm Pharmaceuticals in a research report on Monday, October 30th. They set an “outperform” rating and a $40.00 price objective for the company. Morgan Stanley assumed coverage on Rhythm Pharmaceuticals in a research report on Monday, October 30th. They set an “equal weight” rating and a $23.00 price objective for the company. Bank of America Corporation assumed coverage on Rhythm Pharmaceuticals in a research report on Monday, October 30th. They issued a “buy” rating and a $30.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $32.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of peptide therapeutics for the treatment of rare genetic deficiencies that result in life-threatening metabolic disorders. The Company’s lead peptide product candidate is setmelanotide, a potent, first-in-class melanocortin-4 receptor, or MC4R, agonist for the treatment of rare genetic disorders of obesity.

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