Brokerages Set Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Price Target at $54.33

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTMGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $54.33.

A number of brokerages have commented on RYTM. Bank of America cut shares of Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the company from $49.00 to $42.00 in a report on Wednesday, May 8th. Wells Fargo & Company reduced their price objective on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Canaccord Genuity Group reduced their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reduced their price objective on shares of Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th.

Check Out Our Latest Research Report on RYTM

Insider Buying and Selling

In related news, insider Joseph Shulman sold 3,984 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $38.47, for a total transaction of $153,264.48. Following the completion of the transaction, the insider now owns 30 shares in the company, valued at $1,154.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Joseph Shulman sold 3,984 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $38.47, for a total transaction of $153,264.48. Following the completion of the transaction, the insider now owns 30 shares in the company, valued at $1,154.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David P. Meeker sold 45,494 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $39.22, for a total transaction of $1,784,274.68. Following the transaction, the chief executive officer now owns 174,605 shares of the company’s stock, valued at approximately $6,848,008.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,596 shares of company stock worth $3,924,525. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. AJOVista LLC bought a new position in Rhythm Pharmaceuticals during the fourth quarter valued at $42,000. Nisa Investment Advisors LLC lifted its position in Rhythm Pharmaceuticals by 91.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company’s stock valued at $58,000 after purchasing an additional 600 shares during the last quarter. Quarry LP bought a new position in Rhythm Pharmaceuticals during the fourth quarter valued at $69,000. ZRC Wealth Management LLC lifted its position in Rhythm Pharmaceuticals by 392.8% during the first quarter. ZRC Wealth Management LLC now owns 1,971 shares of the company’s stock valued at $85,000 after purchasing an additional 1,571 shares during the last quarter. Finally, Whittier Trust Co. bought a new position in Rhythm Pharmaceuticals during the fourth quarter valued at $92,000.

Rhythm Pharmaceuticals Trading Down 0.6 %

Shares of RYTM stock opened at $39.68 on Friday. Rhythm Pharmaceuticals has a 12 month low of $15.50 and a 12 month high of $52.57. The stock has a market cap of $2.42 billion, a P/E ratio of -8.57 and a beta of 1.93. The company has a 50 day simple moving average of $39.46 and a two-hundred day simple moving average of $41.46.

Rhythm Pharmaceuticals (NASDAQ:RYTMGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($2.35) EPS for the quarter, missing analysts’ consensus estimates of ($2.34) by ($0.01). Rhythm Pharmaceuticals had a negative net margin of 297.91% and a negative return on equity of 179.26%. The business had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $26.90 million. During the same period in the prior year, the company posted ($0.92) earnings per share. The firm’s quarterly revenue was up 126.1% on a year-over-year basis. As a group, equities analysts forecast that Rhythm Pharmaceuticals will post -4.44 earnings per share for the current year.

About Rhythm Pharmaceuticals

(Get Free Report

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.

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Analyst Recommendations for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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