Research Analysts Set Expectations for RYTM FY2029 Earnings

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) – Equities research analysts at Needham & Company LLC issued their FY2029 earnings estimates for Rhythm Pharmaceuticals in a research report issued on Thursday, February 6th. Needham & Company LLC analyst J. Stringer anticipates that the company will post earnings per share of $6.55 for the year. Needham & Company LLC has a “Buy” rating and a $64.00 price target on the stock. The consensus estimate for Rhythm Pharmaceuticals’ current full-year earnings is ($4.33) per share.

A number of other research analysts have also recently commented on the stock. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an “outperform” rating and a $76.00 target price on the stock. Bank of America upped their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. The Goldman Sachs Group boosted their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Guggenheim began coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 price target for the company. Finally, JMP Securities reiterated a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $68.09.

Rhythm Pharmaceuticals Stock Down 1.2 %

NASDAQ:RYTM opened at $58.47 on Monday. Rhythm Pharmaceuticals has a 52 week low of $35.17 and a 52 week high of $68.58. The stock’s fifty day moving average is $57.26 and its two-hundred day moving average is $53.36. The company has a market capitalization of $3.59 billion, a P/E ratio of -13.50 and a beta of 2.14.

Insider Buying and Selling

In related news, CEO David P. Meeker sold 4,278 shares of the business’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 transaction of $254,241.54. Following the completion of the sale, the chief executive officer now owns 189,927 shares in the company, valued at $11,287,361.61. The trade was a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer Kayden Lee sold 1,447 shares of the 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 $85,995.21. Following the completion of the transaction, the executive vice president now owns 4,038 shares in the company, valued at $239,978.34. This represents a 26.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,684 shares of company stock worth $516,090. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RYTM. SRS Capital Advisors Inc. lifted its position in Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after acquiring an additional 400 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $37,000. R Squared Ltd purchased a new position in Rhythm Pharmaceuticals during the 4th quarter worth approximately $44,000. Finally, ORG Wealth Partners LLC acquired a new position in Rhythm Pharmaceuticals during the third quarter worth approximately $63,000.

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.