147,301 Shares in Rhythm Pharmaceuticals, Inc. $RYTM Bought by Nuveen LLC

Key Points

• Nuveen LLC has made a new investment of approximately $7.80 million in Rhythm Pharmaceuticals by acquiring 147,301 shares, representing about 0.23% of the company as per the latest SEC filing.
• Rhythm Pharmaceuticals reported a 66.8% increase in quarterly revenue to $48.50 million, although it missed analysts' EPS estimate by $0.09, resulting in an EPS of ($0.75).
• Several analysts have raised their target prices on Rhythm Pharmaceuticals, with Wells Fargo increasing its target from $91.00 to $129.00 and maintaining an "overweight" rating.

Nuveen LLC purchased a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 147,301 shares of the company's stock, valued at approximately $7,803,000. Nuveen LLC owned approximately 0.23% of Rhythm Pharmaceuticals as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. First Trust Advisors LP lifted its stake in Rhythm Pharmaceuticals by 67.2% in the 4th quarter. First Trust Advisors LP now owns 118,337 shares of the company's stock worth $6,625,000 after purchasing an additional 47,575 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Rhythm Pharmaceuticals by 1,386.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,518 shares of the company's stock worth $239,000 after purchasing an additional 4,214 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Rhythm Pharmaceuticals by 491.0% in the 4th quarter. BNP Paribas Financial Markets now owns 85,249 shares of the company's stock worth $4,772,000 after purchasing an additional 70,824 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Rhythm Pharmaceuticals in the 1st quarter worth $1,042,000. Finally, Principal Financial Group Inc. lifted its stake in Rhythm Pharmaceuticals by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 37,156 shares of the company's stock worth $1,968,000 after purchasing an additional 272 shares in the last quarter.

Analyst Upgrades and Downgrades

RYTM has been the subject of a number of recent research reports. Wall Street Zen raised shares of Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Wells Fargo & Company increased their target price on shares of Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Leerink Partners started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, July 7th. They issued an "outperform" rating and a $88.00 target price on the stock. Bank of America boosted their target price on shares of Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Finally, Stifel Nicolaus boosted their target price on shares of Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. Based on data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $101.57.

Rhythm Pharmaceuticals Stock Up 1.9%

Shares of NASDAQ RYTM traded up $1.93 during mid-day trading on Thursday, reaching $104.23. 443,843 shares of the company were exchanged, compared to its average volume of 662,436. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of -34.63 and a beta of 2.38. Rhythm Pharmaceuticals, Inc. has a 1 year low of $45.00 and a 1 year high of $104.93. The firm has a 50-day moving average of $84.28 and a 200 day moving average of $67.28.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.09). Rhythm Pharmaceuticals had a negative return on equity of 1,831.43% and a negative net margin of 117.13%.The business had revenue of $48.50 million for the quarter, compared to analysts' expectations of $43.72 million. During the same quarter last year, the firm earned ($0.55) earnings per share. The firm's quarterly revenue was up 66.8% compared to the same quarter last year. On average, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Christopher Paul German sold 3,817 shares of the business's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $80.75, for a total transaction of $308,222.75. Following the transaction, the chief accounting officer directly owned 922 shares in the company, valued at $74,451.50. The trade was a 80.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Hunter C. Smith sold 42,120 shares of the business's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $80.48, for a total value of $3,389,817.60. Following the transaction, the chief financial officer owned 116,915 shares in the company, valued at approximately $9,409,319.20. This trade represents a 26.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,177 shares of company stock valued at $9,977,553 in the last 90 days. Corporate insiders own 6.10% of the company's stock.

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.