Rhythm Pharmaceuticals (NASDAQ:RYTM) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM - Free Report) in a research report report published on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $97.00 price target on the stock.

Several other research firms have also recently issued reports on RYTM. HC Wainwright reissued a "buy" rating and set a $80.00 target price (up from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Stifel Nicolaus upped their price objective on shares of Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $95.00 target price (up previously from $72.00) on shares of Rhythm Pharmaceuticals in a research note on Wednesday. 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 note on Monday, April 7th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $84.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Thursday, June 26th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $91.00.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM traded down $2.34 on Thursday, reaching $86.70. 1,105,173 shares of the company's stock traded hands, compared to its average volume of 588,517. The stock has a market cap of $5.52 billion, a PE ratio of -30.85 and a beta of 2.26. Rhythm Pharmaceuticals has a 12 month low of $40.61 and a 12 month high of $94.80. The stock has a 50-day simple moving average of $64.34 and a 200 day simple moving average of $59.29.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. The company had revenue of $37.72 million during the quarter, compared to analysts' expectations of $40.43 million. During the same quarter in the prior year, the firm posted ($2.35) EPS. The firm's quarterly revenue was up 25.9% on a year-over-year basis. As a group, analysts anticipate that Rhythm Pharmaceuticals will post -4.32 EPS for the current year.

Insider Activity

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 42,120 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $80.48, for a total value of $3,389,817.60. Following the completion of the sale, the chief financial officer owned 116,915 shares of the company's stock, valued at approximately $9,409,319.20. The trade was a 26.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Christopher Paul German sold 3,817 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $80.75, for a total value of $308,222.75. Following the transaction, the chief accounting officer directly owned 922 shares in the company, valued at $74,451.50. The trade was a 80.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,673 shares of company stock valued at $7,118,510. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in Rhythm Pharmaceuticals by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company's stock worth $24,645,000 after purchasing an additional 6,384 shares in the last quarter. Raymond James Financial Inc. bought a new position in Rhythm Pharmaceuticals during the fourth quarter valued at approximately $218,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Rhythm Pharmaceuticals during the 4th quarter valued at approximately $341,000. Swiss National Bank increased its stake in Rhythm Pharmaceuticals by 1.0% in the 4th quarter. Swiss National Bank now owns 90,200 shares of the company's stock worth $5,049,000 after acquiring an additional 900 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $287,000.

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.