Rhythm Pharmaceuticals (NASDAQ:RYTM) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Rhythm Pharmaceuticals received a "sell (D-)" rating from Weiss Ratings, indicating negative sentiment about the stock's performance.
• The company has a consensus rating of "Moderate Buy" with an average target price of $106.64, supported by 15 analysts rating it as a buy.
• Insider trading activity revealed that executives sold a total of 39,280 shares worth approximately $3.76 million over the last three months, indicating some level of insider selling.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

RYTM has been the subject of a number of other reports. Leerink Partners initiated coverage on Rhythm Pharmaceuticals in a research report on Monday, July 7th. They issued an "outperform" rating and a $88.00 target price for the company. Leerink Partnrs upgraded Rhythm Pharmaceuticals to a "strong-buy" rating in a research report on Monday, July 7th. HC Wainwright upped their target price on Rhythm Pharmaceuticals from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. Citigroup restated an "outperform" rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, September 25th. Finally, Guggenheim upped their target price on Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $106.64.

Rhythm Pharmaceuticals Price Performance

RYTM opened at $100.23 on Wednesday. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of -33.30 and a beta of 2.12. Rhythm Pharmaceuticals has a 1-year low of $45.90 and a 1-year high of $106.52. The business has a 50 day moving average price of $98.02 and a two-hundred day moving average price of $76.74.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.75) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.09). The firm had revenue of $48.50 million during the quarter, compared to analyst estimates of $43.72 million. Rhythm Pharmaceuticals had a negative return on equity of 1,831.43% and a negative net margin of 117.13%.The business's revenue for the quarter was up 66.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.55) earnings per share. Equities analysts expect that Rhythm Pharmaceuticals will post -4.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 1,520 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $85.93, for a total transaction of $130,613.60. Following the transaction, the insider directly owned 20,814 shares in the company, valued at approximately $1,788,547.02. The trade was a 6.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Hunter C. Smith sold 24,611 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $96.33, for a total transaction of $2,370,777.63. Following the transaction, the chief financial officer owned 116,915 shares in the company, valued at approximately $11,262,421.95. The trade was a 17.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,280 shares of company stock worth $3,755,655 over the last three months. Corporate insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in RYTM. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Rhythm Pharmaceuticals during the 1st quarter worth approximately $34,000. Osaic Holdings Inc. grew its position in Rhythm Pharmaceuticals by 65.9% during the 2nd quarter. Osaic Holdings Inc. now owns 979 shares of the company's stock worth $62,000 after purchasing an additional 389 shares in the last quarter. State of Wyoming purchased a new position in Rhythm Pharmaceuticals during the 2nd quarter worth approximately $67,000. GF Fund Management CO. LTD. grew its position in Rhythm Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,573 shares of the company's stock worth $83,000 after purchasing an additional 283 shares in the last quarter. Finally, CWM LLC grew its position in Rhythm Pharmaceuticals by 92.3% during the 1st quarter. CWM LLC now owns 2,584 shares of the company's stock worth $137,000 after purchasing an additional 1,240 shares in 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.

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