Rhythm Pharmaceuticals, Inc. (RYTM) Given Consensus Recommendation of “Buy” by Analysts

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have been assigned an average broker rating score of 1.75 (Buy) from the four brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company.

Brokers have set a 1-year consensus target price of $31.25 for the company, according to Zacks. Zacks has also assigned Rhythm Pharmaceuticals an industry rank of 119 out of 265 based on the ratings given to its competitors.

Several research firms recently commented on RYTM. Needham & Company LLC began coverage on Rhythm Pharmaceuticals in a research note on Monday, October 30th. They issued a “buy” rating and a $32.00 price objective for the company. Cowen and Company reissued a “buy” rating and issued a $40.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday. Bank of America Corporation began coverage on Rhythm Pharmaceuticals in a research note on Monday, October 30th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Morgan Stanley began coverage on Rhythm Pharmaceuticals in a research note on Monday, October 30th. They issued an “equal weight” rating and a $23.00 price objective for the company.

Rhythm Pharmaceuticals (NASDAQ RYTM) opened at $24.02 on Wednesday. Rhythm Pharmaceuticals has a 52 week low of $21.38 and a 52 week high of $33.81.

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In related news, insider James E. Flynn bought 355,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was acquired at an average cost of $17.00 per share, with a total value of $6,035,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder S.A. Ipsen bought 20,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was bought at an average cost of $17.00 per share, with a total value of $340,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 1,285,000 shares of company stock valued at $21,845,000.

Rhythm Pharmaceuticals Company Profile

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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