Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $68.09.

Several equities research analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Oppenheimer assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. TD Cowen lifted their price target on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th.

Insider Activity

In other news, CFO Hunter C. Smith sold 1,678 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $99,723.54. Following the completion of the transaction, the chief financial officer now owns 101,186 shares of the company’s stock, valued at approximately $6,013,483.98. This trade represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals 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 $76,129.83. Following the completion of the transaction, the insider now owns 2,657 shares of the company’s stock, valued at $157,905.51. This represents a 32.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,963 shares of company stock valued at $883,060. 5.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RYTM. SRS Capital Advisors Inc. lifted its stake in Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after acquiring an additional 400 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in Rhythm Pharmaceuticals in the fourth quarter worth approximately $28,000. SBI Securities Co. Ltd. purchased a new position in Rhythm Pharmaceuticals in the fourth quarter worth approximately $37,000. R Squared Ltd purchased a new position in Rhythm Pharmaceuticals in the fourth quarter worth approximately $44,000. Finally, ORG Wealth Partners LLC purchased a new position in Rhythm Pharmaceuticals in the third quarter worth approximately $63,000.

Rhythm Pharmaceuticals Trading Down 0.1 %

Rhythm Pharmaceuticals stock opened at $57.56 on Friday. Rhythm Pharmaceuticals has a 12-month low of $35.17 and a 12-month high of $68.58. The stock has a market cap of $3.54 billion, a P/E ratio of -13.29 and a beta of 2.14. The company has a 50-day moving average price of $57.11 and a 200 day moving average price of $53.51.

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.