Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Pamela J. Cramer Sells 1,520 Shares

Key Points

• Insider **Pamela J. Cramer** sold **1,520 shares** of Rhythm Pharmaceuticals stock at an average price of **$85.93**, resulting in a total transaction value of **$130,613.60** and a **6.81% decrease** in her ownership.
• Rhythm Pharmaceuticals reported a **(-$0.81) EPS** for the last quarter, missing analysts' estimates by **$0.12**, with revenues of **$37.72 million**, below the expected **$40.43 million**.
• Analysts have generally positive views on **Rhythm Pharmaceuticals**, with price targets recently raised; Bank of America set a new target at **$95.00**, marking an increase from **$73.00** previously.

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Pamela J. Cramer sold 1,520 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $85.93, for a total value of $130,613.60. Following the completion of the transaction, the insider directly owned 20,814 shares in the company, valued at $1,788,547.02. This represents a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rhythm Pharmaceuticals Trading Up 3.6%

RYTM stock traded up $3.07 during midday trading on Friday, hitting $88.30. 666,964 shares of the company's stock were exchanged, compared to its average volume of 901,449. Rhythm Pharmaceuticals, Inc. has a 12-month low of $40.61 and a 12-month high of $94.80. The firm has a 50 day moving average price of $72.39 and a 200-day moving average price of $62.45. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of -31.42 and a beta of 2.38.

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 (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. The business had revenue of $37.72 million for the quarter, compared to analysts' expectations of $40.43 million. During the same quarter in the prior year, the firm earned ($2.35) earnings per share. Rhythm Pharmaceuticals's revenue for the quarter was up 25.9% compared to the same quarter last year. On average, sell-side analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 2.7% in 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 during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Rhythm Pharmaceuticals by 12.9% in the 1st quarter. Driehaus Capital Management LLC now owns 1,458,022 shares of the company's stock valued at $77,231,000 after acquiring an additional 167,047 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Rhythm Pharmaceuticals in the 1st quarter valued at approximately $71,038,000. Janus Henderson Group PLC increased its holdings in shares of Rhythm Pharmaceuticals by 103.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company's stock valued at $68,309,000 after acquiring an additional 621,432 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $63,515,000 after acquiring an additional 513,901 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RYTM. Oppenheimer lifted their price objective on Rhythm Pharmaceuticals from $76.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Guggenheim reissued a "buy" rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, July 10th. Canaccord Genuity Group boosted 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. HC Wainwright reissued a "buy" rating and set a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, Leerink Partnrs raised Rhythm Pharmaceuticals to a "strong-buy" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $91.93.

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.