Intech Investment Management LLC Makes New Investment in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Intech Investment Management LLC purchased a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,386 shares of the company’s stock, valued at approximately $649,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Driehaus Capital Management LLC boosted its holdings in Rhythm Pharmaceuticals by 38.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock worth $48,548,000 after buying an additional 326,865 shares during the period. Candriam S.C.A. purchased a new stake in shares of Rhythm Pharmaceuticals during the second quarter worth about $11,143,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Rhythm Pharmaceuticals by 32.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 967,243 shares of the company’s stock worth $39,715,000 after purchasing an additional 236,600 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Rhythm Pharmaceuticals by 157.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 374,347 shares of the company’s stock valued at $15,371,000 after purchasing an additional 229,056 shares during the period. Finally, Frazier Life Sciences Management L.P. lifted its holdings in Rhythm Pharmaceuticals by 8.3% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock worth $97,366,000 after purchasing an additional 181,125 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, November 25th. Needham & Company LLC lifted their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a “buy” rating and a $70.00 price target on the stock. TD Cowen raised their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Bank of America boosted their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.30.

Rhythm Pharmaceuticals Trading Down 0.3 %

Shares of NASDAQ RYTM opened at $62.04 on Friday. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -14.33 and a beta of 2.09. Rhythm Pharmaceuticals, Inc. has a 12-month low of $32.22 and a 12-month high of $68.58. The firm’s 50-day moving average price is $54.24 and its 200-day moving average price is $47.99.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.07. The business had revenue of $33.20 million during the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company’s revenue for the quarter was up 47.6% on a year-over-year basis. During the same period last year, the company earned ($0.76) EPS. On average, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Pamela J. Cramer sold 4,099 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $50.03, for a total transaction of $205,072.97. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $675,405. The trade was a 23.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lynn A. Tetrault sold 17,501 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $49.65, for a total transaction of $868,924.65. Following the transaction, the director now owns 3,000 shares in the company, valued at $148,950. The trade was a 85.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,181 shares of company stock valued at $8,359,750 over the last three months. 5.60% of the stock is owned by company insiders.

Rhythm Pharmaceuticals 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.