Rhythm Pharmaceuticals (NASDAQ:RYTM) Coverage Initiated 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 released on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $97.00 target price on the stock.

A number of other brokerages have also weighed in on RYTM. Leerink Partners started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday. They set an "outperform" rating and a $88.00 target price for the company. Wells Fargo & Company upped their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. JMP Securities reaffirmed a "market outperform" rating and issued a $84.00 target price on shares of Rhythm Pharmaceuticals in a report on Thursday, June 26th. Stifel Nicolaus upped their target price 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. Finally, Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price objective for the company in a research report on Monday, April 7th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $89.36.

Rhythm Pharmaceuticals Stock Up 0.0%

Shares of NASDAQ RYTM traded up $0.04 during trading hours on Thursday, hitting $89.04. The company's stock had a trading volume of 2,537,834 shares, compared to its average volume of 586,587. Rhythm Pharmaceuticals has a 12 month low of $40.61 and a 12 month high of $94.58. The business has a 50-day simple moving average of $63.88 and a 200-day simple moving average of $59.06.

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

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, EVP Yann Mazabraud sold 6,745 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $65.08, for a total transaction of $438,964.60. Following the completion of the transaction, the executive vice president owned 37,655 shares in the company, valued at $2,450,587.40. This represents a 15.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alastair Garfield sold 1,319 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $64.81, for a total transaction of $85,484.39. Following the sale, the insider directly owned 3,126 shares of the company's stock, valued at approximately $202,596.06. This represents a 29.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,195 shares of company stock valued at $1,599,572 in the last three months. Company insiders own 6.10% of the company's stock.

Institutional Trading of Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its position in Rhythm Pharmaceuticals by 12.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 86,546 shares of the company's stock valued at $5,469,000 after buying an additional 9,249 shares during the period. E. Ohman J or Asset Management AB acquired a new stake in Rhythm Pharmaceuticals during the 2nd quarter worth $519,000. Rhumbline Advisers increased its stake in Rhythm Pharmaceuticals by 3.6% in the first quarter. Rhumbline Advisers now owns 85,719 shares of the company's stock valued at $4,541,000 after purchasing an additional 2,988 shares during the period. Strs Ohio acquired a new position in Rhythm Pharmaceuticals in the first quarter valued at $980,000. Finally, Siren L.L.C. acquired a new position in Rhythm Pharmaceuticals in the first quarter valued at $14,701,000.

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.