Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives $91.93 Consensus PT from Analysts

Key Points

• Rhythm Pharmaceuticals has received a consensus rating of "Buy" from 15 analysts, with an average 12-month price target of $91.93 per share.
• Following recent transactions, CFO Hunter C. Smith sold 42,120 shares, resulting in a 26.48% decrease in ownership of the stock.
• Despite missing quarterly earnings expectations, revenue increased by 25.9% compared to the same quarter last year, totaling $37.72 million.

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) have been assigned an average recommendation of "Buy" from the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. Fourteen analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $91.9286.

A number of equities research analysts recently issued reports on the stock. Guggenheim restated a "buy" rating on shares of Rhythm Pharmaceuticals in a report on Thursday, July 10th. Wall Street Zen raised shares of Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Leerink Partnrs raised shares of Rhythm Pharmaceuticals to a "strong-buy" rating in a research report on Monday, July 7th. Needham & Company LLC reissued a "buy" rating and set a $95.00 target price (up from $72.00) on shares of Rhythm Pharmaceuticals in a research report on Wednesday, July 9th. Finally, Leerink Partners assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, July 7th. They set an "outperform" rating and a $88.00 target price on the stock.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 15,572 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $77.13, for a total value of $1,201,068.36. Following the completion of the transaction, the insider owned 19,209 shares in the company, valued at $1,481,590.17. This represents a 44.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joseph Shulman sold 7,969 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $77.78, for a total transaction of $619,828.82. Following the completion of the transaction, the insider owned 8,509 shares of the company's stock, valued at $661,830.02. This represents a 48.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,417 shares of company stock valued at $6,352,511. Corporate insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Rhythm Pharmaceuticals in the 1st quarter valued at about $34,000. State of Wyoming acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $61,000. GF Fund Management CO. LTD. acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $72,000. CWM LLC lifted its holdings in Rhythm Pharmaceuticals by 92.3% in the 1st quarter. CWM LLC now owns 2,584 shares of the company's stock valued at $137,000 after acquiring an additional 1,240 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rhythm Pharmaceuticals by 16.2% in 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 last quarter.

Rhythm Pharmaceuticals Price Performance

RYTM traded up $0.25 during midday trading on Friday, reaching $88.55. 131,006 shares of the company's stock were exchanged, compared to its average volume of 669,346. The stock has a market capitalization of $5.63 billion, a PE ratio of -31.52 and a beta of 2.38. The business's 50-day moving average price is $72.39 and its 200 day moving average price is $62.57. Rhythm Pharmaceuticals has a 1-year low of $40.61 and a 1-year high of $94.80.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.12). The firm had revenue of $37.72 million for the quarter, compared to analysts' expectations of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. The business's quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.35) earnings per share. As a group, analysts expect that Rhythm Pharmaceuticals will post -4.32 EPS for the current fiscal 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.