Rhythm Pharmaceuticals’ (RYTM) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a research note published on Tuesday,Benzinga reports. They currently have a $80.00 price target on the stock, up from their prior price target of $70.00.

A number of other equities analysts have also weighed in on the company. Needham & Company LLC upped their target price on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an “outperform” rating and a $76.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an “overweight” rating in a research report on Monday. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $74.92.

Rhythm Pharmaceuticals Trading Down 4.0 %

Shares of Rhythm Pharmaceuticals stock opened at $57.83 on Tuesday. The company’s 50-day moving average price is $54.58 and its 200-day moving average price is $55.29. Rhythm Pharmaceuticals has a 12-month low of $35.17 and a 12-month high of $68.58. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -13.36 and a beta of 2.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The firm had revenue of $41.83 million during the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. On average, sell-side analysts predict that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current year.

Insider Transactions at Rhythm Pharmaceuticals

In other news, CAO Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $36,334.70. Following the sale, the chief accounting officer now directly owns 2,070 shares in the company, valued at approximately $118,445.40. This trade represents a 23.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yann Mazabraud sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00. Following the transaction, the executive vice president now directly owns 40,370 shares in the company, valued at $2,078,247.60. This trade represents a 65.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,641 shares of company stock worth $8,112,177. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Advisers LP boosted its stake in shares of Rhythm Pharmaceuticals by 2.3% during the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock valued at $733,000 after purchasing an additional 300 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of Rhythm Pharmaceuticals by 740.7% during the 4th 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 period. Raleigh Capital Management Inc. bought a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Rhythm Pharmaceuticals by 2.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,156 shares of the company’s stock valued at $1,857,000 after purchasing an additional 654 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter valued at approximately $37,000.

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.