Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives Average Rating of "Buy" from Brokerages

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) have received a consensus recommendation of "Buy" from the thirteen research firms that are covering the stock, Marketbeat Ratings reports. Thirteen research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $74.92.

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price target on the stock. Bank of America upgraded shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target on the stock in a research report on Monday, April 7th. Needham & Company LLC restated a "buy" rating and issued a $66.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Morgan Stanley restated an "overweight" rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Finally, Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a "buy" rating and a $80.00 price target on the stock.

Rhythm Pharmaceuticals Trading Up 1.0 %

RYTM stock traded up $0.65 during mid-day trading on Wednesday, hitting $64.41. 466,683 shares of the company were exchanged, compared to its average volume of 551,419. The company has a market capitalization of $4.07 billion, a PE ratio of -14.88 and a beta of 2.32. Rhythm Pharmaceuticals has a twelve month low of $35.17 and a twelve month high of $68.58. The firm has a fifty day simple moving average of $55.19 and a 200 day simple moving average of $56.19.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The company had revenue of $41.83 million for the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. As a group, sell-side analysts anticipate that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current year.

Insider Activity at Rhythm Pharmaceuticals

In other news, EVP Jennifer Kayden Lee sold 1,815 shares of the business's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $56.39, for a total value of $102,347.85. Following the sale, the executive vice president now owns 3,598 shares of the company's stock, valued at approximately $202,891.22. The trade was a 33.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Yann Mazabraud sold 17,750 shares of the business's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $60.99, for a total value of $1,082,572.50. Following the completion of the sale, the executive vice president now directly owns 22,620 shares in the company, valued at $1,379,593.80. This represents a 43.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,641 shares of company stock worth $8,112,177 in the last three months. 5.60% of the stock is owned by company insiders.

Institutional Trading of Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Rhythm Pharmaceuticals by 241.9% in the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company's stock worth $1,707,000 after buying an additional 23,054 shares in the last quarter. Barclays PLC raised 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 worth $5,574,000 after buying an additional 47,166 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth $521,000. KBC Group NV grew its holdings 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 worth $126,000 after acquiring an additional 988 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth $37,000.

About Rhythm Pharmaceuticals

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.