Lazard Asset Management LLC Purchases Shares of 106,261 Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Lazard Asset Management LLC acquired a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 106,261 shares of the company's stock, valued at approximately $5,947,000. Lazard Asset Management LLC owned 0.17% of Rhythm Pharmaceuticals at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Rhythm Pharmaceuticals by 79.6% during the 3rd quarter. Barclays PLC now owns 106,397 shares of the company's stock valued at $5,574,000 after acquiring an additional 47,166 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at about $28,000. KBC Group NV increased its holdings in shares of Rhythm Pharmaceuticals by 78.2% during the 4th quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after acquiring an additional 988 shares during the last quarter. R Squared Ltd acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at approximately $44,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Rhythm Pharmaceuticals by 10.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,031 shares of the company's stock valued at $729,000 after buying an additional 1,273 shares during the last quarter.

Insider Buying and Selling

In related news, insider Pamela J. Cramer sold 7,031 shares of the company's stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction on Friday, March 14th. The stock was 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 in the company, valued at $2,078,247.60. The trade was a 65.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,630 shares of company stock valued at $7,107,346. 6.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RYTM. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price objective (up from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Wells Fargo & Company lifted their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Morgan Stanley restated an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Needham & Company LLC lifted their price objective on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price for the company in a report on Monday, April 7th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $75.38.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM traded up $0.41 during mid-day trading on Wednesday, hitting $64.28. The company had a trading volume of 90,261 shares, compared to its average volume of 552,312. The firm has a fifty day moving average price of $58.20 and a 200 day moving average price of $57.57. The company has a market capitalization of $4.09 billion, a PE ratio of -14.89 and a beta of 2.36. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58.

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

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.