Zacks: Brokerages Anticipate Rhythm Pharmaceuticals Inc (RYTM) to Post -$0.56 EPS

Wall Street analysts predict that Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) will announce earnings of ($0.56) per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Rhythm Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.65) and the highest is ($0.46). Rhythm Pharmaceuticals posted earnings of ($0.41) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 36.6%. The firm is expected to announce its next earnings results on Monday, March 11th.

According to Zacks, analysts expect that Rhythm Pharmaceuticals will report full-year earnings of ($2.08) per share for the current year, with EPS estimates ranging from ($2.29) to ($1.86). For the next fiscal year, analysts anticipate that the business will post earnings of ($2.49) per share, with EPS estimates ranging from ($3.66) to ($1.89). Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Rhythm Pharmaceuticals.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Friday, November 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.06).

Several analysts have issued reports on the company. Zacks Investment Research downgraded Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Needham & Company LLC set a $42.00 price target on Rhythm Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 9th. Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a research note on Friday, September 14th. They issued a “hold” rating and a $36.00 price target on the stock. Morgan Stanley assumed coverage on Rhythm Pharmaceuticals in a research note on Friday, September 7th. They issued an “overweight” rating on the stock. Finally, BidaskClub raised Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.25.

In other news, CEO Keith Michael Gottesdiener sold 16,500 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $30.08, for a total value of $496,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Der Ploeg Leonardus H.T. Van sold 31,800 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $29.80, for a total value of $947,640.00. The disclosure for this sale can be found here. Insiders sold a total of 86,300 shares of company stock valued at $2,587,380 in the last 90 days. 4.93% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Rhythm Pharmaceuticals by 110.5% in the 2nd quarter. Bank of America Corp DE now owns 6,251 shares of the company’s stock valued at $195,000 after acquiring an additional 3,282 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in Rhythm Pharmaceuticals by 642.8% during the second quarter. Cubist Systematic Strategies LLC now owns 8,735 shares of the company’s stock worth $273,000 after purchasing an additional 7,559 shares during the period. MetLife Investment Advisors LLC bought a new position in Rhythm Pharmaceuticals during the third quarter worth about $280,000. American International Group Inc. grew its holdings in Rhythm Pharmaceuticals by 26.5% during the third quarter. American International Group Inc. now owns 10,098 shares of the company’s stock worth $295,000 after purchasing an additional 2,114 shares during the period. Finally, Highland Capital Management LP bought a new position in Rhythm Pharmaceuticals during the second quarter worth about $313,000. Institutional investors own 90.42% of the company’s stock.

Shares of RYTM traded down $1.87 during midday trading on Wednesday, hitting $27.41. The stock had a trading volume of 134,438 shares, compared to its average volume of 100,476. Rhythm Pharmaceuticals has a twelve month low of $16.80 and a twelve month high of $37.23. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -9.69 and a beta of 2.31.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of peptide therapeutics for the treatment of rare genetic disorders of obesity in the United States. Its peptide candidates include Setmelanotide, a melanocortin-4 receptor agonist, which is in Phase III clinical trial to treat POMC and leptin receptor deficiency obesity; and Phase II clinical trial for Bardet-Biedl and Alström syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.

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