Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Jennifer L. Good Sells 31,751 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Jennifer L. Good sold 31,751 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at $157,200. The transaction was disclosed in a filing with the SEC, which is available through this link.

Rhythm Pharmaceuticals Stock Up 1.7 %

Shares of NASDAQ:RYTM opened at $54.55 on Friday. The business has a fifty day simple moving average of $48.08 and a 200 day simple moving average of $43.08. Rhythm Pharmaceuticals, Inc. has a 12-month low of $20.97 and a 12-month high of $55.64. The firm has a market cap of $3.33 billion, a P/E ratio of -11.78 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The company had revenue of $29.08 million during the quarter, compared to the consensus estimate of $28.79 million. During the same period last year, the company earned ($0.82) earnings per share. The firm’s revenue was up 51.3% compared to the same quarter last year. As a group, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current year.

Analysts Set New Price Targets

RYTM has been the topic of a number of research reports. JMP Securities assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday. They set an “outperform” rating and a $64.00 target price on the stock. HC Wainwright started coverage on Rhythm Pharmaceuticals in a research report on Wednesday. They set a “buy” rating and a $64.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC increased its position in shares of Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after buying an additional 253 shares during the period. American International Group Inc. boosted its position in Rhythm Pharmaceuticals by 3.1% during the first quarter. American International Group Inc. now owns 26,318 shares of the company’s stock valued at $1,140,000 after acquiring an additional 781 shares during the last quarter. ORG Partners LLC acquired a new stake in Rhythm Pharmaceuticals during the 2nd quarter worth about $51,000. Principal Financial Group Inc. grew its holdings in Rhythm Pharmaceuticals by 20.6% during the 1st quarter. Principal Financial Group Inc. now owns 7,180 shares of the company’s stock worth $311,000 after acquiring an additional 1,227 shares during the period. Finally, Quest Partners LLC raised its position in shares of Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after acquiring an additional 1,391 shares in the last quarter.

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.