HC Wainwright Issues Positive Forecast for Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock Price

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price target increased by HC Wainwright from $69.00 to $70.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Canaccord Genuity Group upped their target price on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Oppenheimer started coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $64.00 price target on shares of Rhythm Pharmaceuticals in a research report on Thursday, February 27th. TD Cowen increased their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group raised their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $68.27.

Rhythm Pharmaceuticals Stock Down 4.6 %

Shares of NASDAQ:RYTM opened at $52.40 on Monday. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -12.10 and a beta of 2.14. Rhythm Pharmaceuticals has a 52 week low of $35.17 and a 52 week high of $68.58. The firm has a 50 day moving average of $56.91 and a 200 day moving average of $54.39.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). The business had revenue of $41.83 million for the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. On average, sell-side analysts expect that Rhythm Pharmaceuticals will post -4.32 EPS for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Jennifer Kayden Lee sold 1,815 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $56.39, for a total value of $102,347.85. Following the completion of the transaction, the executive vice president now owns 3,598 shares of the company’s stock, valued at $202,891.22. This trade represents a 33.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Joseph Shulman sold 1,281 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $76,129.83. Following the completion of the transaction, the insider now directly owns 2,657 shares of the company’s stock, valued at $157,905.51. This represents a 32.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,787 shares of company stock valued at $1,901,443 in the last 90 days. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several institutional investors have recently modified their holdings of RYTM. Creative Planning purchased a new stake in shares of Rhythm Pharmaceuticals during the 3rd quarter worth $450,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rhythm Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after purchasing an additional 391 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Rhythm Pharmaceuticals by 19.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 41,368 shares of the company’s stock worth $2,167,000 after acquiring an additional 6,741 shares in the last quarter. Principal Financial Group Inc. raised its stake in Rhythm Pharmaceuticals by 241.9% during the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock worth $1,707,000 after acquiring an additional 23,054 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Rhythm Pharmaceuticals by 158.0% during the 3rd quarter. Victory Capital Management Inc. now owns 18,186 shares of the company’s stock worth $953,000 after acquiring an additional 11,137 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.