Analysts Set Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Price Target at $76.62

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) has received a consensus recommendation of "Buy" from the thirteen research firms that are presently covering the stock, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $76.62.

A number of brokerages have commented on RYTM. HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Wells Fargo & Company lifted their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Bank of America raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target for the company in a report on Monday, April 7th. Morgan Stanley restated an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Finally, Stifel Nicolaus increased their target price on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, May 29th.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM traded down $0.17 during mid-day trading on Thursday, hitting $62.85. The company's stock had a trading volume of 315,741 shares, compared to its average volume of 628,297. The firm has a market capitalization of $4.00 billion, a P/E ratio of -14.52 and a beta of 2.30. Rhythm Pharmaceuticals has a 52-week low of $39.46 and a 52-week high of $69.89. The stock's fifty day simple moving average is $61.97 and its two-hundred day simple moving average is $57.97.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.12). The company had revenue of $37.72 million for the quarter, compared to analysts' expectations of $40.43 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The business's quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.35) earnings per share. On average, equities analysts forecast that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 7,031 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $68.05, for a total value of $478,459.55. Following the sale, the insider now directly owns 19,209 shares of the company's stock, valued at approximately $1,307,172.45. This trade represents a 26.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher Paul German sold 2,069 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $67.19, for a total value of $139,016.11. Following the completion of the transaction, the chief accounting officer now directly owns 1,889 shares in the company, valued at approximately $126,921.91. This represents a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,730 shares of company stock valued at $3,863,822. Corporate insiders own 6.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in shares of Rhythm Pharmaceuticals by 3.6% in the 1st quarter. Rhumbline Advisers now owns 85,719 shares of the company's stock valued at $4,541,000 after buying an additional 2,988 shares in the last quarter. Strs Ohio bought a new position in Rhythm Pharmaceuticals during the first quarter worth about $980,000. Siren L.L.C. acquired a new stake in Rhythm Pharmaceuticals during the first quarter valued at approximately $14,701,000. Intech Investment Management LLC grew its stake in shares of Rhythm Pharmaceuticals by 20.7% in the 1st quarter. Intech Investment Management LLC now owns 33,893 shares of the company's stock valued at $1,795,000 after purchasing an additional 5,801 shares during the period. Finally, Bayforest Capital Ltd acquired a new position in shares of Rhythm Pharmaceuticals in the 1st quarter worth approximately $166,000.

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.