Ameriprise Financial Inc. Raises Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Ameriprise Financial Inc. increased its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 27.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,367 shares of the company's stock after buying an additional 11,480 shares during the period. Ameriprise Financial Inc. owned about 0.09% of Rhythm Pharmaceuticals worth $2,987,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RYTM. SRS Capital Advisors Inc. lifted its holdings in shares of Rhythm Pharmaceuticals by 740.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock worth $25,000 after purchasing an additional 400 shares during the period. SBI Securities Co. Ltd. acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at $37,000. R Squared Ltd acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at $44,000. KBC Group NV raised its stake in Rhythm Pharmaceuticals by 78.2% in the 4th quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after purchasing an additional 988 shares during the last quarter. Finally, Freestone Capital Holdings LLC purchased a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at $207,000.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ RYTM traded down $0.52 during mid-day trading on Friday, hitting $61.36. 484,159 shares of the stock were exchanged, compared to its average volume of 555,870. The company has a market cap of $3.90 billion, a P/E ratio of -14.17 and a beta of 2.36. The stock's fifty day simple moving average is $59.55 and its two-hundred day simple moving average is $57.54. Rhythm Pharmaceuticals, Inc. has a twelve month low of $36.27 and a twelve month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $37.72 million during the quarter, compared to the consensus estimate of $40.43 million. During the same quarter last year, the firm earned ($2.35) EPS. The business's revenue for the quarter was up 25.9% on a year-over-year basis. As a group, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. HC Wainwright reiterated a "buy" rating and set a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Morgan Stanley reissued an "overweight" rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Stifel Nicolaus raised their target price on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the stock a "buy" rating in a research report on Thursday. Wells Fargo & Company lifted their price target on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Finally, Needham & Company LLC lifted their price target on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $76.62.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 75,000 shares of Rhythm Pharmaceuticals stock in a transaction on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the completion of the transaction, the executive vice president now directly owns 40,370 shares of the company's stock, valued at $2,078,247.60. The trade was a 65.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Pamela J. Cramer sold 7,031 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $65.09, for a total value of $457,647.79. Following the completion of the transaction, the insider now directly owns 19,209 shares in the company, valued at approximately $1,250,313.81. This represents a 26.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,630 shares of company stock valued at $7,107,346 in the last ninety days. 6.10% of the stock is currently owned by corporate insiders.

Rhythm Pharmaceuticals 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.