Rhythm Pharmaceuticals (NASDAQ:RYTM) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a research report report published on Monday,Benzinga reports. They currently have a $70.00 price target on the stock.

A number of other research analysts have also weighed in on RYTM. The Goldman Sachs Group raised their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Morgan Stanley restated an “overweight” rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Canaccord Genuity Group increased their price target on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. JMP Securities restated a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target for the company. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.46.

Rhythm Pharmaceuticals Stock Performance

RYTM stock opened at $53.72 on Monday. The business has a 50-day simple moving average of $55.28 and a two-hundred day simple moving average of $54.99. The company has a market capitalization of $3.40 billion, a P/E ratio of -12.41 and a beta of 2.30. Rhythm Pharmaceuticals has a 52-week low of $35.17 and a 52-week high of $68.58.

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

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,281 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were 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 directly owns 2,657 shares of the company’s stock, valued at $157,905.51. This trade represents a 32.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Yann Mazabraud sold 75,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the transaction, the executive vice president now owns 40,370 shares of the company’s stock, valued at $2,078,247.60. This trade represents a 65.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,131 shares of company stock worth $5,781,098. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several large investors have recently added to or reduced their stakes in RYTM. Victory Capital Management Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 158.0% in the 3rd quarter. Victory Capital Management Inc. now owns 18,186 shares of the company’s stock valued at $953,000 after acquiring an additional 11,137 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Rhythm Pharmaceuticals in the third quarter valued at approximately $649,000. Charles Schwab Investment Management Inc. lifted its position in Rhythm Pharmaceuticals by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 433,866 shares of the company’s stock valued at $22,730,000 after purchasing an additional 5,908 shares during the last quarter. Penserra Capital Management LLC purchased a new position in Rhythm Pharmaceuticals in the 3rd quarter worth approximately $1,313,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter worth $33,353,000.

About Rhythm Pharmaceuticals

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.