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

Key Points

• Rhythm Pharmaceuticals has received an average rating of "Buy" from 15 analysts, with an average price target of $101.57 per share.
• Shares of Rhythm Pharmaceuticals saw a 2.5% decline and currently trade around $96.06, with a market cap of $6.38 billion.
• In its latest earnings report, the company reported ($0.75) earnings per share, missing estimates, though it experienced a 66.8% increase in revenue compared to the previous year.

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) has received an average rating of "Buy" from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Fourteen analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $101.5714.

RYTM has been the subject of a number of recent analyst reports. Bank of America raised their price objective on Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Oppenheimer raised their price target on Rhythm Pharmaceuticals from $76.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Canaccord Genuity Group upped their price objective on shares of Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 18th. Morgan Stanley reissued an "overweight" rating and issued a $109.00 price objective (up from $100.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, August 5th. Finally, JMP Securities lifted their target price on shares of Rhythm Pharmaceuticals from $130.00 to $135.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th.

Insider Transactions at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 7,969 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $77.78, for a total value of $619,828.82. Following the transaction, the insider directly owned 8,509 shares in the company, valued at approximately $661,830.02. This represents a 48.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Hunter C. Smith sold 42,120 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $80.48, for a total transaction of $3,389,817.60. Following the transaction, the chief financial officer directly owned 116,915 shares in the company, valued at approximately $9,409,319.20. This represents a 26.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,077 shares of company stock worth $9,360,077 over the last three months. Company insiders own 6.10% of the company's stock.

Institutional Trading of Rhythm Pharmaceuticals

Large investors have recently modified their holdings of the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Rhythm Pharmaceuticals during the 1st quarter worth approximately $34,000. Osaic Holdings Inc. lifted its position in shares of Rhythm Pharmaceuticals by 65.9% in the 2nd quarter. Osaic Holdings Inc. now owns 979 shares of the company's stock worth $62,000 after purchasing an additional 389 shares during the period. State of Wyoming bought a new stake in Rhythm Pharmaceuticals during the second quarter valued at $67,000. GF Fund Management CO. LTD. acquired a new stake in Rhythm Pharmaceuticals during the fourth quarter worth approximately $72,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rhythm Pharmaceuticals by 16.2% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,458 shares of the company's stock valued at $155,000 after acquiring an additional 342 shares during the period.

Rhythm Pharmaceuticals Stock Up 0.2%

Shares of NASDAQ:RYTM traded up $0.18 during midday trading on Friday, hitting $99.18. The stock had a trading volume of 69,222 shares, compared to its average volume of 658,872. The company has a market cap of $6.59 billion, a P/E ratio of -33.02 and a beta of 2.23. Rhythm Pharmaceuticals has a 12 month low of $45.90 and a 12 month high of $106.52. The business's 50-day simple moving average is $95.32 and its 200-day simple moving average is $73.11.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.75) EPS for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.09). The firm had revenue of $48.50 million during the quarter, compared to analyst estimates of $43.72 million. Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. The business's revenue was up 66.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.55) EPS. As a group, equities analysts predict that Rhythm Pharmaceuticals 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.