Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Acquired by Swiss National Bank

Swiss National Bank grew its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Rating) by 9.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 97,900 shares of the company’s stock after buying an additional 8,300 shares during the period. Swiss National Bank’s holdings in Rhythm Pharmaceuticals were worth $2,851,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Rhythm Pharmaceuticals by 1,145.9% during the third quarter. State Street Corp now owns 3,127,905 shares of the company’s stock worth $76,634,000 after purchasing an additional 2,876,846 shares during the period. BlackRock Inc. lifted its holdings in shares of Rhythm Pharmaceuticals by 200.4% during the third quarter. BlackRock Inc. now owns 3,537,499 shares of the company’s stock worth $86,667,000 after purchasing an additional 2,359,924 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Rhythm Pharmaceuticals by 80.7% during the first quarter. Federated Hermes Inc. now owns 5,065,113 shares of the company’s stock worth $58,350,000 after purchasing an additional 2,261,778 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Rhythm Pharmaceuticals by 10.4% during the third quarter. Primecap Management Co. CA now owns 7,026,892 shares of the company’s stock worth $172,159,000 after purchasing an additional 662,798 shares during the period. Finally, RA Capital Management L.P. lifted its holdings in shares of Rhythm Pharmaceuticals by 12.3% during the third quarter. RA Capital Management L.P. now owns 5,471,067 shares of the company’s stock worth $134,041,000 after purchasing an additional 600,000 shares during the period.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock opened at $16.54 on Wednesday. The stock has a market capitalization of $940.30 million, a PE ratio of -4.94 and a beta of 1.73. Rhythm Pharmaceuticals, Inc. has a 12 month low of $3.06 and a 12 month high of $34.99. The business has a 50 day simple moving average of $18.19 and a 200-day simple moving average of $23.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.21). The business had revenue of $11.50 million during the quarter, compared to analysts’ expectations of $12.12 million. Rhythm Pharmaceuticals had a negative net margin of 537.16% and a negative return on equity of 75.16%. The firm’s quarterly revenue was up 666.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.05) earnings per share. On average, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -3.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on RYTM. The Goldman Sachs Group lifted their target price on Rhythm Pharmaceuticals from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, March 2nd. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday, March 2nd. LADENBURG THALM/SH SH reissued a “buy” rating and issued a $35.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday, March 2nd. Canaccord Genuity Group boosted their price target on Rhythm Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, March 2nd. Finally, Morgan Stanley boosted their price target on Rhythm Pharmaceuticals from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, March 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

About Rhythm Pharmaceuticals

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Rhythm Pharmaceuticals, Inc is a biopharmaceutical company, which engages in developing and commercializing peptide therapeutics for the treatment of gastrointestinal diseases and genetic deficiencies. The firm focuses on the treatment for Prader-Willi Syndrome and Pro-Opiomelanocortin deficiency obesity.