Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock Has Consensus Target Price of $140.67

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has been given an average recommendation of “Moderate Buy” by the twenty-one brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $140.67.

A number of research analysts have commented on the company. Stifel Nicolaus set a $133.00 price target on Rhythm Pharmaceuticals in a research report on Monday, June 15th. TD Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Leerink Partners assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, September 14th. They issued an “outperform” rating and a $133.00 price target on the stock. Royal Bank Of Canada raised their target price on Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th.

Insider Transactions at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 5,079 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $119.75, for a total transaction of $608,210.25. Following the completion of the transaction, the insider owned 15,915 shares of the company’s stock, valued at $1,905,821.25. This represents a 24.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alastair Garfield sold 7,763 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $117.57, for a total transaction of $912,695.91. Following the completion of the transaction, the insider owned 2,295 shares in the company, valued at $269,823.15. This represents a 77.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 258,450 shares of company stock worth $28,796,497 in the last three months. 5.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of Rhythm Pharmaceuticals by 303.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. GAMMA Investing LLC grew its stake in shares of Rhythm Pharmaceuticals by 36.3% during the second quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Rhythm Pharmaceuticals in the 2nd quarter worth $51,000. State of Wyoming increased its holdings in shares of Rhythm Pharmaceuticals by 155.9% in the fourth quarter. State of Wyoming now owns 2,441 shares of the company’s stock valued at $261,000 after purchasing an additional 1,487 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in Rhythm Pharmaceuticals by 14.1% in the 1st quarter. Chicago Partners Investment Group LLC now owns 3,125 shares of the company’s stock valued at $266,000 after acquiring an additional 386 shares in the last quarter.

Rhythm Pharmaceuticals Stock Down 0.6%

Shares of RYTM opened at $92.83 on Wednesday. The business’s 50-day moving average price is $105.42 and its 200-day moving average price is $97.62. Rhythm Pharmaceuticals has a twelve month low of $74.50 and a twelve month high of $122.20. The stock has a market cap of $6.36 billion, a PE ratio of -29.85 and a beta of 2.01.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.08. The company had revenue of $71.25 million during the quarter, compared to analysts’ expectations of $67.66 million. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. Rhythm Pharmaceuticals’s revenue for the quarter was up 46.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.75) earnings per share. Analysts expect that Rhythm Pharmaceuticals will post -2.86 earnings per share for the current fiscal year.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for rare genetic diseases of obesity and other disorders involving the melanocortin-4 receptor (MC4R) pathway. The company’s research is centered on conditions in which genetic defects disrupt the body’s regulation of appetite, hunger and energy expenditure.

Rhythm’s lead product is IMCIVREE (setmelanotide), an MC4R agonist designed to restore signaling in the brain’s melanocortin pathway.