Hennion & Walsh Asset Management Inc. Has $4.75 Million Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Hennion & Walsh Asset Management Inc. cut its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 9.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,622 shares of the company’s stock after selling 9,825 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.14% of Rhythm Pharmaceuticals worth $4,747,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Janus Henderson Group PLC increased its holdings in Rhythm Pharmaceuticals by 103.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock valued at $68,309,000 after purchasing an additional 621,432 shares during the period. Marshall Wace LLP increased its holdings in Rhythm Pharmaceuticals by 70.4% in the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock valued at $38,783,000 after purchasing an additional 286,188 shares during the period. Norges Bank acquired a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at $11,512,000. JPMorgan Chase & Co. increased its holdings in Rhythm Pharmaceuticals by 224.3% in the fourth quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company’s stock valued at $14,811,000 after purchasing an additional 182,993 shares during the period. Finally, Stempoint Capital LP increased its holdings in Rhythm Pharmaceuticals by 404.1% in the fourth quarter. Stempoint Capital LP now owns 208,016 shares of the company’s stock valued at $11,645,000 after purchasing an additional 166,748 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus increased their price target on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Canaccord Genuity Group raised their price target on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, April 8th. Wells Fargo & Company lifted their target price on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an “overweight” rating in a research report on Monday, April 7th. HC Wainwright reissued a “buy” rating and set a $80.00 target price (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, Bank of America raised shares of Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Monday, April 7th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $76.62.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM opened at $65.67 on Wednesday. The firm has a fifty day moving average price of $59.98 and a 200-day moving average price of $57.65. The stock has a market cap of $4.18 billion, a PE ratio of -15.17 and a beta of 2.36. Rhythm Pharmaceuticals, Inc. has a 1 year low of $37.46 and a 1 year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.12). The firm had revenue of $37.72 million during the quarter, compared to analysts’ expectations of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period last year, the company earned ($2.35) earnings per share. On average, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 7,031 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $65.09, for a total value of $457,647.79. Following the completion of the transaction, the insider now directly owns 19,209 shares of the company’s stock, valued at $1,250,313.81. This trade represents a 26.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Yann Mazabraud sold 17,750 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $60.99, for a total transaction of $1,082,572.50. Following the completion of the transaction, the executive vice president now directly owns 22,620 shares of the company’s stock, valued at $1,379,593.80. The trade was a 43.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,630 shares of company stock valued at $7,107,346. Corporate insiders own 6.10% of the company’s stock.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.