Toth Financial Advisory Corp Makes New $632,000 Investment in Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Toth Financial Advisory Corp has acquired a new position in Rhythm Pharmaceuticals, purchasing 10,000 shares valued at approximately $632,000.
• Several institutional investors, including Federated Hermes Inc. and Price T Rowe Associates Inc., have also increased their stakes in Rhythm Pharmaceuticals during the recent quarters.
• Analysts have shown a positive outlook on the stock, with multiple firms raising their target prices, and an average consensus target price of $101.57.

Toth Financial Advisory Corp acquired a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 10,000 shares of the company's stock, valued at approximately $632,000.

Several other large investors also recently modified their holdings of the business. Federated Hermes Inc. boosted its position in Rhythm Pharmaceuticals by 2.7% during the 1st quarter. Federated Hermes Inc. now owns 1,591,871 shares of the company's stock valued at $84,321,000 after acquiring an additional 42,236 shares in the last quarter. Driehaus Capital Management LLC raised its stake in Rhythm Pharmaceuticals by 12.9% during the 1st quarter. Driehaus Capital Management LLC now owns 1,458,022 shares of the company's stock valued at $77,231,000 after buying an additional 167,047 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Rhythm Pharmaceuticals during the 1st quarter valued at $71,038,000. Price T Rowe Associates Inc. MD boosted its holdings in Rhythm Pharmaceuticals by 75.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company's stock worth $63,515,000 after buying an additional 513,901 shares during the period. Finally, Checkpoint Capital L.P. boosted its holdings in shares of Rhythm Pharmaceuticals by 24.6% during the 1st quarter. Checkpoint Capital L.P. now owns 907,240 shares of the company's stock valued at $48,057,000 after purchasing an additional 179,258 shares during the last quarter.

Rhythm Pharmaceuticals Trading Up 3.1%

Rhythm Pharmaceuticals stock traded up $2.94 during mid-day trading on Monday, reaching $99.00. The company's stock had a trading volume of 771,631 shares, compared to its average volume of 594,832. Rhythm Pharmaceuticals, Inc. has a twelve month low of $45.90 and a twelve month high of $106.52. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of -32.89 and a beta of 2.23. The business has a 50 day moving average price of $95.32 and a 200-day moving average price of $73.11.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released 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 net margin of 117.13% and a negative return on equity of 1,831.43%. The business had revenue of $48.50 million for the quarter, compared to analysts' expectations of $43.72 million. During the same period last year, the firm earned ($0.55) EPS. The company's revenue was up 66.8% compared to the same quarter last year. On average, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RYTM shares. Bank of America increased their price objective on shares of Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Wells Fargo & Company lifted their price objective on shares of Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Guggenheim boosted their price target on shares of Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $95.00 price target (up previously from $72.00) on shares of Rhythm Pharmaceuticals in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $101.57.

Insiders Place Their Bets

In other news, insider Pamela J. Cramer sold 15,572 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $77.13, for a total value of $1,201,068.36. Following the transaction, the insider owned 19,209 shares in the company, valued at $1,481,590.17. This trade represents a 44.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Christopher Paul German sold 3,817 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $80.75, for a total value of $308,222.75. Following the completion of the sale, the chief accounting officer directly owned 922 shares of the company's stock, valued at $74,451.50. This represents a 80.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,077 shares of company stock valued at $9,360,077 over the last 90 days. 6.10% of the stock is owned by 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.