Northern Trust Corp Grows Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Northern Trust Corp lifted its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 545,314 shares of the company's stock after acquiring an additional 46,848 shares during the quarter. Northern Trust Corp owned approximately 0.89% of Rhythm Pharmaceuticals worth $30,527,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Barclays PLC lifted its stake in shares of Rhythm Pharmaceuticals by 79.6% in the 3rd quarter. Barclays PLC now owns 106,397 shares of the company's stock valued at $5,574,000 after purchasing an additional 47,166 shares during the period. Franklin Resources Inc. lifted its stake in shares of Rhythm Pharmaceuticals by 11.5% in the 3rd quarter. Franklin Resources Inc. now owns 259,416 shares of the company's stock valued at $13,033,000 after purchasing an additional 26,739 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $28,000. KBC Group NV lifted its stake in shares of Rhythm Pharmaceuticals by 78.2% in the 4th quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after purchasing an additional 988 shares during the period. Finally, R Squared Ltd bought a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $44,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price on the stock in a research report on Monday, April 7th. Canaccord Genuity Group increased their target price on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Needham & Company LLC increased their target price on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Wells Fargo & Company raised their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, Rhythm Pharmaceuticals has an average rating of "Buy" and an average price target of $75.38.

Insiders Place Their Bets

In related news, EVP Yann Mazabraud sold 6,745 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $65.08, for a total transaction of $438,964.60. Following the transaction, the executive vice president now owns 37,655 shares in the company, valued at approximately $2,450,587.40. The trade was a 15.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pamela J. Cramer sold 7,031 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $65.09, for a total transaction of $457,647.79. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. In the last quarter, insiders sold 143,639 shares of company stock valued at $8,023,381. Company insiders own 5.60% of the company's stock.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM traded up $0.24 on Friday, hitting $60.42. 216,371 shares of the stock traded hands, compared to its average volume of 551,334. The company has a market capitalization of $3.84 billion, a PE ratio of -13.95 and a beta of 2.36. The business has a 50 day simple moving average of $57.53 and a 200 day simple moving average of $57.24. 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 announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.12). The firm had revenue of $37.72 million for the quarter, compared to the consensus estimate of $40.43 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Rhythm Pharmaceuticals's revenue was up 25.9% on a year-over-year basis. During the same period last year, the business earned ($2.35) EPS. On average, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current 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.