Rhythm Pharmaceuticals (NASDAQ:RYTM) Given New $167.00 Price Target at Citizens Jmp

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price target raised by Citizens Jmp from $141.00 to $167.00 in a research report report published on Friday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other equities analysts have also issued reports on RYTM. Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday. Canaccord Genuity Group lifted their price objective on shares of Rhythm Pharmaceuticals from $105.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Oppenheimer downgraded shares of Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. Citigroup reaffirmed an “outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Friday. Finally, Wall Street Zen cut Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.27.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM opened at $113.56 on Friday. The company has a 50 day moving average price of $105.31 and a 200-day moving average price of $92.03. Rhythm Pharmaceuticals has a fifty-two week low of $45.90 and a fifty-two week high of $122.20. The stock has a market capitalization of $7.58 billion, a PE ratio of -36.63 and a beta of 1.96.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). Rhythm Pharmaceuticals had a negative return on equity of 433.21% and a negative net margin of 110.32%.The company had revenue of $51.30 million for the quarter, compared to analysts’ expectations of $50.71 million. Equities research analysts forecast that Rhythm Pharmaceuticals will post -4.32 EPS for the current year.

Insider Activity

In related news, insider Joseph Shulman sold 14,437 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $112.03, for a total transaction of $1,617,377.11. Following the completion of the transaction, the insider directly owned 8,509 shares in the company, valued at $953,263.27. The trade was a 62.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 27,000 shares of company stock worth $3,064,490 over the last three months. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Rhythm Pharmaceuticals by 4.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,568 shares of the company’s stock valued at $259,000 after acquiring an additional 110 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Rhythm Pharmaceuticals by 0.7% in the 2nd quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock valued at $1,104,000 after purchasing an additional 114 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Rhythm Pharmaceuticals by 97.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after buying an additional 141 shares during the period. Optiver Holding B.V. increased its holdings in shares of Rhythm Pharmaceuticals by 65.2% during the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after buying an additional 144 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Rhythm Pharmaceuticals by 1.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,960 shares of the company’s stock valued at $1,309,000 after buying an additional 188 shares during the period.

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.