Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $69.89 and last traded at $66.13, with a volume of 267654 shares traded. The stock had previously closed at $68.11.
Analyst Ratings Changes
Several research analysts recently commented on the stock. Needham & Company LLC lifted their target price on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. HC Wainwright reiterated a "buy" rating and issued a $80.00 target price (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Morgan Stanley reiterated an "overweight" rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Bank of America upgraded shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price objective on the stock in a report on Monday, April 7th. Finally, Canaccord Genuity Group boosted their price objective on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $76.62.
Read Our Latest Stock Report on RYTM
Rhythm Pharmaceuticals Stock Performance
The firm's 50-day moving average price is $61.97 and its two-hundred day moving average price is $57.97. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of -14.55 and a beta of 2.30.
Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its earnings results 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 230.07% and a negative return on equity of 367.36%. The business had revenue of $37.72 million for the quarter, compared to analyst estimates of $40.43 million. During the same quarter last year, the firm posted ($2.35) earnings per share. Rhythm Pharmaceuticals's revenue was up 25.9% on a year-over-year basis. As a group, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.
Insider Activity
In other news, CAO Christopher Paul German sold 2,069 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $67.19, for a total transaction of $139,016.11. Following the sale, the chief accounting officer now directly owns 1,889 shares in the company, valued at approximately $126,921.91. The trade was a 52.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Yann Mazabraud sold 75,000 shares of Rhythm Pharmaceuticals stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the sale, the executive vice president now owns 40,370 shares in the company, valued at approximately $2,078,247.60. This trade represents a 65.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,730 shares of company stock worth $7,724,822. Corporate insiders own 6.10% of the company's stock.
Hedge Funds Weigh In On Rhythm Pharmaceuticals
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. boosted its position in Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after buying an additional 400 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Rhythm Pharmaceuticals in the first quarter valued at about $34,000. SBI Securities Co. Ltd. acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $37,000. State of Wyoming acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $61,000. Finally, GF Fund Management CO. LTD. acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $72,000.
Rhythm Pharmaceuticals Company Profile
(
Get Free Report)
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.
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