Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) have received an average recommendation of "Moderate Buy" from the eighteen analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $142.4375.

Several analysts have recently commented on the stock. Stifel Nicolaus set a $133.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, June 15th. Citizens Jmp upped their price objective on Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 5th. Wells Fargo & Company upped their price objective on Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the stock an "overweight" rating in a report on Monday, June 15th. National Bank Financial set a $160.00 price objective on Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada lifted their target price on Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th.

Rhythm Pharmaceuticals Stock Down 0.1%

Shares of NASDAQ RYTM opened at $115.48 on Tuesday. Rhythm Pharmaceuticals has a 12-month low of $74.50 and a 12-month high of $122.20. The firm's 50-day simple moving average is $103.06 and its 200 day simple moving average is $96.11. The company has a market cap of $7.91 billion, a price-to-earnings ratio of -37.13 and a beta of 1.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. The firm had revenue of $71.25 million during the quarter, compared to analysts' expectations of $67.66 million. During the same quarter last year, the company posted ($0.75) EPS. The company's quarterly revenue was up 46.9% compared to the same quarter last year. On average, equities analysts expect that Rhythm Pharmaceuticals will post -2.86 earnings per share for the current year.

Insider Transactions at Rhythm Pharmaceuticals

In related news, Director Lynn A. Tetrault sold 37,000 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $100.32, for a total value of $3,711,840.00. Following the transaction, the director owned 7,000 shares in the company, valued at $702,240. This trade represents a 84.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in shares of Rhythm Pharmaceuticals by 303.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company's stock worth $28,000 after purchasing an additional 200 shares during the period. SBI Securities Co. Ltd. lifted its stake in Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company's stock valued at $37,000 after buying an additional 145 shares during the period. GAMMA Investing LLC lifted its stake in Rhythm Pharmaceuticals by 36.3% in the second quarter. GAMMA Investing LLC now owns 364 shares of the company's stock valued at $40,000 after buying an additional 97 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Rhythm Pharmaceuticals by 39.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company's stock worth $43,000 after buying an additional 113 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in Rhythm Pharmaceuticals during the second quarter worth about $51,000.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company's research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company's lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.

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