Brokerages Set Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Target Price at $77.31

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) has received a consensus recommendation of "Buy" from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. Fourteen investment analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $78.07.

Several research analysts recently issued reports on RYTM shares. Wells Fargo & Company increased their price target on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Needham & Company LLC increased their target price on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Stifel Nicolaus raised their target price on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, JMP Securities reissued a "market outperform" rating and set a $84.00 price objective on shares of Rhythm Pharmaceuticals in a report on Thursday, June 26th.

Rhythm Pharmaceuticals Stock Up 0.9%

Shares of RYTM traded up $0.62 during mid-day trading on Monday, hitting $66.39. 821,801 shares of the company's stock were exchanged, compared to its average volume of 559,165. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of -23.63 and a beta of 2.26. The firm has a fifty day moving average of $62.86 and a two-hundred day moving average of $58.50. Rhythm Pharmaceuticals has a twelve month low of $40.61 and a twelve month high of $69.89.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted 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 business had revenue of $37.72 million for the quarter, compared to analyst estimates of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. The company's quarterly revenue was up 25.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.35) earnings per share. On average, equities analysts predict that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Christopher Paul German sold 2,069 shares of the company's 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 transaction, the chief accounting officer directly owned 1,889 shares of the company's stock, valued at approximately $126,921.91. This represents a 52.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alastair Garfield sold 1,319 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $64.81, for a total transaction of $85,484.39. Following the transaction, the insider directly owned 3,126 shares of the company's stock, valued at $202,596.06. The trade was a 29.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,705 shares of company stock worth $3,930,651. Corporate insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of Rhythm Pharmaceuticals by 1.0% during the first quarter. Victory Capital Management Inc. now owns 17,326 shares of the company's stock valued at $918,000 after purchasing an additional 174 shares in the last quarter. Xponance Inc. grew its holdings in shares of Rhythm Pharmaceuticals by 4.7% in the first quarter. Xponance Inc. now owns 4,365 shares of the company's stock valued at $231,000 after purchasing an additional 197 shares in the last quarter. Principal Financial Group Inc. increased its position in Rhythm Pharmaceuticals by 0.7% in the first quarter. Principal Financial Group Inc. now owns 37,156 shares of the company's stock worth $1,968,000 after purchasing an additional 272 shares during the last quarter. GF Fund Management CO. LTD. raised its stake in Rhythm Pharmaceuticals by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,573 shares of the company's stock valued at $83,000 after purchasing an additional 283 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in Rhythm Pharmaceuticals by 2.3% during the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the company's stock valued at $733,000 after purchasing an additional 300 shares during the last quarter.

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.