Rhythm Pharmaceuticals (NASDAQ:RYTM) Receives New Coverage from Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a report issued on Wednesday, MarketBeat reports. The firm issued a buy rating and a $64.00 target price on the stock.

RYTM has been the subject of several other research reports. JMP Securities initiated coverage on Rhythm Pharmaceuticals in a research note on Tuesday. They set an outperform rating and a $64.00 price target for the company. Needham & Company LLC restated a buy rating and set a $55.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of Moderate Buy and an average target price of $57.88.

Rhythm Pharmaceuticals Stock Performance

NASDAQ RYTM opened at $53.64 on Wednesday. The firm’s fifty day moving average is $47.92 and its two-hundred day moving average is $43.00. Rhythm Pharmaceuticals has a one year low of $20.97 and a one year high of $54.88. The firm has a market cap of $3.27 billion, a PE ratio of -11.59 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.16. The firm had revenue of $29.08 million for the quarter, compared to analysts’ expectations of $28.79 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The firm’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.82) EPS. Research analysts predict that Rhythm Pharmaceuticals will post -4.44 earnings per share for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, Director Lynn A. Tetrault sold 17,501 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $49.65, for a total value of $868,924.65. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $148,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 10,468 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $53.00, for a total value of $554,804.00. Following the sale, the insider now owns 30 shares of the company’s stock, valued at $1,590. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynn A. Tetrault sold 17,501 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $49.65, for a total value of $868,924.65. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $148,950. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,282 shares of company stock valued at $4,550,639. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after purchasing an additional 253 shares in the last quarter. ORG Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals during the 2nd quarter worth approximately $51,000. Quest Partners LLC lifted its stake in Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after buying an additional 1,391 shares in the last quarter. Quarry LP acquired a new stake in Rhythm Pharmaceuticals during the 4th quarter valued at $69,000. Finally, ZRC Wealth Management LLC increased its position in Rhythm Pharmaceuticals by 392.8% during the first quarter. ZRC Wealth Management LLC now owns 1,971 shares of the company’s stock worth $85,000 after buying an additional 1,571 shares in the last quarter.

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.