Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have earned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $138.2857.

A number of equities research analysts recently weighed in on RYTM shares. Wall Street Zen upgraded Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company increased their target price on Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. TD Cowen reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Stifel Nicolaus set a $133.00 price target on Rhythm Pharmaceuticals in a report on Monday, June 15th. Finally, Canaccord Genuity Group upped their price objective on Rhythm Pharmaceuticals from $143.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th.

Rhythm Pharmaceuticals Stock Performance

NASDAQ RYTM opened at $106.09 on Friday. The firm’s fifty day moving average price is $97.40 and its two-hundred day moving average price is $95.85. The stock has a market cap of $7.27 billion, a PE ratio of -33.89 and a beta of 1.88. Rhythm Pharmaceuticals has a fifty-two week low of $74.50 and a fifty-two week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The company had revenue of $60.11 million during the quarter, compared to analysts’ expectations of $55.78 million. During the same period in the prior year, the company earned ($0.81) EPS. Rhythm Pharmaceuticals’s revenue was up 83.8% compared to the same quarter last year. As a group, sell-side analysts predict that Rhythm Pharmaceuticals will post -3.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Lynn A. Tetrault sold 37,000 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on 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 sale, the director directly owned 7,000 shares in the company, valued at $702,240. This trade represents a 84.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. M&T Bank Corp bought a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth $9,202,000. Jennison Associates LLC raised its position in Rhythm Pharmaceuticals by 123.2% during the 4th quarter. Jennison Associates LLC now owns 918,567 shares of the company’s stock worth $98,323,000 after purchasing an additional 507,017 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new position in Rhythm Pharmaceuticals during the 4th quarter worth about $8,734,000. Los Angeles Capital Management LLC grew its position in shares of Rhythm Pharmaceuticals by 45.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 24,334 shares of the company’s stock valued at $2,721,000 after buying an additional 7,613 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Rhythm Pharmaceuticals by 21.9% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 123,537 shares of the company’s stock valued at $13,218,000 after buying an additional 22,165 shares during the last quarter.

Rhythm Pharmaceuticals Company Profile

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.