Rhythm Pharmaceuticals (NASDAQ:RYTM) Coverage Initiated at Leerink Partners

Research analysts at Leerink Partners started coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) in a report released on Monday, Marketbeat Ratings reports. The firm set an "outperform" rating and a $88.00 price target on the stock. Leerink Partners' price target points to a potential upside of 32.55% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. HC Wainwright reaffirmed a "buy" rating and set a $80.00 target price (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Wells Fargo & Company lifted their target price on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. Needham & Company LLC lifted their target price on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Canaccord Genuity Group lifted their target price on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Finally, Stifel Nicolaus lifted their target price on shares of Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $78.07.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM traded up $0.62 during trading hours on Monday, reaching $66.39. The company's stock had a trading volume of 821,801 shares, compared to its average volume of 559,165. The company has a market cap of $4.22 billion, a price-to-earnings ratio of -23.63 and a beta of 2.26. Rhythm Pharmaceuticals has a one year low of $40.61 and a one year high of $69.89. The business's 50-day moving average is $62.86 and its 200-day moving average is $58.50.

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 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 company had revenue of $37.72 million for the quarter, compared to the consensus estimate of $40.43 million. During the same quarter last year, the company posted ($2.35) EPS. The business's revenue was up 25.9% compared to the same quarter last year. On average, sell-side analysts predict that Rhythm Pharmaceuticals will post -4.32 EPS for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other news, CAO Christopher Paul German sold 2,069 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $67.19, for a total transaction of $139,016.11. Following the sale, the chief accounting officer directly owned 1,889 shares in the company, valued at approximately $126,921.91. The trade was a 52.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alastair Garfield sold 1,319 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $64.81, for a total transaction of $85,484.39. Following the sale, the insider owned 3,126 shares in the company, valued at approximately $202,596.06. This trade represents a 29.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,705 shares of company stock worth $3,930,651. 6.10% of the stock is owned by company insiders.

Institutional Trading of Rhythm Pharmaceuticals

A number of large investors have recently bought and sold shares of RYTM. Westfield Capital Management Co. LP bought a new position in shares of Rhythm Pharmaceuticals during the first quarter valued at $71,038,000. Janus Henderson Group PLC lifted its holdings in Rhythm Pharmaceuticals by 103.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company's stock valued at $68,309,000 after purchasing an additional 621,432 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in 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. Marshall Wace LLP boosted its position in Rhythm Pharmaceuticals by 70.4% in the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company's stock valued at $38,783,000 after buying an additional 286,188 shares in the last quarter. Finally, Siren L.L.C. bought a new stake in Rhythm Pharmaceuticals during the first quarter worth about $14,701,000.

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.