Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives $133.13 Average Target Price from Analysts

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have earned a consensus rating of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $133.1250.

Several equities research analysts have recently commented on RYTM shares. Royal Bank Of Canada boosted their target price on shares of Rhythm Pharmaceuticals from $136.00 to $137.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Stifel Nicolaus set a $133.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, June 15th. Morgan Stanley decreased their target price on shares of Rhythm Pharmaceuticals from $150.00 to $136.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Telsey Advisory Group set a $143.00 target price on shares of Rhythm Pharmaceuticals in a research report on Thursday, March 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 21st.

Rhythm Pharmaceuticals Stock Performance

RYTM opened at $109.84 on Monday. Rhythm Pharmaceuticals has a 1-year low of $61.00 and a 1-year high of $122.20. The company has a market cap of $7.53 billion, a P/E ratio of -35.09 and a beta of 1.92. The company has a fifty day moving average price of $90.72 and a two-hundred day moving average price of $95.85.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The firm had revenue of $60.11 million during the quarter, compared to the consensus estimate of $55.78 million. During the same period in the previous year, the firm posted ($0.81) earnings per share. The business’s revenue was up 83.8% compared to the same quarter last year. On average, research analysts forecast that Rhythm Pharmaceuticals will post -3.11 EPS for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other news, Director Lynn A. Tetrault sold 37,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the completion of the sale, the director directly owned 7,000 shares of the company’s stock, valued at $702,240. The trade was a 84.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Xponance LLC increased its position in shares of Rhythm Pharmaceuticals by 2.6% during the fourth quarter. Xponance LLC now owns 4,269 shares of the company’s stock worth $457,000 after acquiring an additional 107 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Rhythm Pharmaceuticals by 39.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after buying an additional 113 shares during the last quarter. Captrust Financial Advisors increased its stake 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 buying an additional 114 shares during the last quarter. GAMMA Investing LLC increased its stake in Rhythm Pharmaceuticals by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after buying an additional 118 shares during the last quarter. Finally, Optiver Holding B.V. increased its stake in Rhythm Pharmaceuticals by 65.2% in the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after buying an additional 144 shares during the last quarter.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.