Analysts Set Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) PT at $68.27

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have earned an average rating of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $69.08.

A number of research firms have recently commented on RYTM. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Thursday, February 27th. Jefferies Financial Group began coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective for the company. The Goldman Sachs Group upped their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Oppenheimer began coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 price objective for the company. Finally, Canaccord Genuity Group upped their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, February 27th.

Rhythm Pharmaceuticals Trading Down 2.5 %

Shares of RYTM stock opened at $51.64 on Tuesday. The firm has a 50-day moving average price of $56.73 and a 200 day moving average price of $54.47. Rhythm Pharmaceuticals has a twelve month low of $35.17 and a twelve month high of $68.58. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -11.93 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. As a group, research analysts predict that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current year.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,281 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the completion of the transaction, the insider now owns 2,657 shares in the company, valued at $157,905.51. This represents a 32.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Hunter C. Smith sold 1,678 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $99,723.54. Following the completion of the transaction, the chief financial officer now owns 101,186 shares of the company’s stock, valued at approximately $6,013,483.98. This represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,787 shares of company stock worth $1,901,443. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Castleark Management LLC boosted its holdings in Rhythm Pharmaceuticals by 1.3% in the 3rd quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock worth $1,009,000 after acquiring an additional 250 shares during the period. Two Sigma Advisers LP boosted its holdings in Rhythm Pharmaceuticals by 2.3% in the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock worth $733,000 after acquiring an additional 300 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 valued at $114,000 after buying an additional 391 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after buying an additional 400 shares during the last quarter. Finally, Raleigh Capital Management Inc. purchased a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at approximately $28,000.

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.