Creative Planning bought a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,594 shares of the company’s stock, valued at approximately $450,000.
A number of other large investors have also recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the third quarter worth approximately $63,000. Exchange Traded Concepts LLC boosted its holdings in Rhythm Pharmaceuticals by 26.3% in the third quarter. Exchange Traded Concepts LLC now owns 15,057 shares of the company’s stock valued at $789,000 after purchasing an additional 3,137 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Rhythm Pharmaceuticals by 21.4% in the third quarter. Handelsbanken Fonder AB now owns 19,321 shares of the company’s stock valued at $1,012,000 after purchasing an additional 3,400 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Rhythm Pharmaceuticals by 32.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 967,243 shares of the company’s stock valued at $39,715,000 after purchasing an additional 236,600 shares in the last quarter. Finally, Perceptive Advisors LLC boosted its holdings in Rhythm Pharmaceuticals by 5.4% in the second quarter. Perceptive Advisors LLC now owns 3,446,579 shares of the company’s stock valued at $141,517,000 after purchasing an additional 178,000 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. JMP Securities assumed coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target for the company. TD Cowen upped their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday. HC Wainwright reissued a “buy” rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, October 25th. Bank of America increased their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Canaccord Genuity Group increased their price objective on Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $61.80.
Rhythm Pharmaceuticals Stock Up 11.4 %
RYTM opened at $62.65 on Thursday. The firm has a market cap of $3.83 billion, a P/E ratio of -14.37 and a beta of 2.09. Rhythm Pharmaceuticals, Inc. has a 52 week low of $23.83 and a 52 week high of $64.73. The business’s fifty day simple moving average is $50.25 and its 200 day simple moving average is $45.46.
Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. The business had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The business’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.76) earnings per share. As a group, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.45 EPS for the current fiscal year.
Insiders Place Their Bets
In other Rhythm Pharmaceuticals news, Director Jennifer L. Good sold 31,751 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total value of $1,663,752.40. Following the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $157,200. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Lynn A. Tetrault sold 17,501 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total transaction of $868,924.65. Following the sale, the director now directly owns 3,000 shares in the company, valued at approximately $148,950. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jennifer L. Good sold 31,751 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total value of $1,663,752.40. Following the sale, the director now owns 3,000 shares in the company, valued at approximately $157,200. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,857 shares of company stock valued at $5,325,446. Insiders own 5.60% of the company’s stock.
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.
Read More
- Five stocks we like better than Rhythm Pharmaceuticals
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- What a Trump Win Looks Like for the Market Now and Into 2025
- What Are Trending Stocks? Trending Stocks Explained
- Russell 2000 Surge Post-Election: How to Play the Small-Cap Pop
- Airline Stocks – Top Airline Stocks to Buy Now
- Macro Headwinds Send Microchip Technology Stock to the Buy Zone
Receive News & Ratings for Rhythm Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rhythm Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.