Strs Ohio Purchases Shares of 18,500 Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Strs Ohio has invested approximately $980,000 in Rhythm Pharmaceuticals, acquiring 18,500 shares of the company's stock.
• Analysts have issued positive ratings for Rhythm Pharmaceuticals, with several brokerages increasing their price targets and classifying the stock as a "buy" or "strong buy."
• Rhythm Pharmaceuticals reported earnings of ($0.75) per share for its last quarter, falling short of analysts' estimates, despite a revenue increase of 66.8% compared to the previous year.

Strs Ohio purchased a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,500 shares of the company's stock, valued at approximately $980,000.

Several other institutional investors also recently bought and sold shares of RYTM. Westfield Capital Management Co. LP purchased a new position in Rhythm Pharmaceuticals during the first quarter valued at approximately $71,038,000. Price T Rowe Associates Inc. MD increased its position in shares of Rhythm Pharmaceuticals by 75.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company's stock valued at $63,515,000 after buying an additional 513,901 shares in the last quarter. Siren L.L.C. purchased a new stake in shares of Rhythm Pharmaceuticals in the first quarter valued at approximately $14,701,000. Comerica Bank increased its position in shares of Rhythm Pharmaceuticals by 1,330.2% in the first quarter. Comerica Bank now owns 244,754 shares of the company's stock valued at $12,965,000 after buying an additional 227,641 shares in the last quarter. Finally, Checkpoint Capital L.P. increased its position in shares of Rhythm Pharmaceuticals by 24.6% during the first quarter. Checkpoint Capital L.P. now owns 907,240 shares of the company's stock worth $48,057,000 after purchasing an additional 179,258 shares in the last quarter.

Rhythm Pharmaceuticals Stock Down 2.5%

RYTM traded down $2.48 during trading on Friday, reaching $96.06. The stock had a trading volume of 1,378,477 shares, compared to its average volume of 561,497. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of -31.91 and a beta of 2.23. Rhythm Pharmaceuticals, Inc. has a 1-year low of $45.90 and a 1-year high of $106.52. The stock has a 50 day moving average of $95.12 and a two-hundred day moving average of $72.49.

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

Insider Activity

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 1,500 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $95.00, for a total transaction of $142,500.00. Following the sale, the chief accounting officer directly owned 922 shares of the company's stock, valued at $87,590. The trade was a 61.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Hunter C. Smith sold 3,477 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $96.00, for a total transaction of $333,792.00. Following the sale, the chief financial officer owned 116,915 shares of the company's stock, valued at $11,223,840. This trade represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,077 shares of company stock valued at $9,360,077 in the last 90 days. Company insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RYTM. Guggenheim boosted their price objective on Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Bank of America increased their price objective on Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, July 10th. The Goldman Sachs Group started coverage on Rhythm Pharmaceuticals in a report on Thursday, July 10th. They issued a "buy" rating and a $97.00 price target for the company. Canaccord Genuity Group raised their price target on Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, JMP Securities boosted their price objective on Rhythm Pharmaceuticals from $130.00 to $135.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $101.57.

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.