Rhythm Pharmaceuticals' (RYTM) "Market Outperform" Rating Reiterated at JMP Securities

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report)'s stock had its "market outperform" rating reaffirmed by stock analysts at JMP Securities in a report released on Thursday,Benzinga reports. They currently have a $84.00 price objective on the stock. JMP Securities' price objective suggests a potential upside of 36.58% from the stock's current price.

Several other analysts have also recently commented on the company. Wells Fargo & Company raised their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price on the stock in a report on Monday, April 7th. Needham & Company LLC raised their price target 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. Finally, HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $77.31.

Rhythm Pharmaceuticals Trading Down 1.3%

RYTM stock traded down $0.79 during mid-day trading on Thursday, reaching $61.50. 37,129 shares of the stock traded hands, compared to its average volume of 549,671. Rhythm Pharmaceuticals has a 52-week low of $39.46 and a 52-week high of $69.89. The stock's fifty day moving average is $62.43 and its 200-day moving average is $58.06. The company has a market cap of $3.91 billion, a P/E ratio of -21.93 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly 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). 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 during the quarter, compared to analysts' expectations of $40.43 million. During the same quarter last year, the company posted ($2.35) EPS. The firm's revenue was up 25.9% compared to the same quarter last year. Equities research analysts expect that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 2,069 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $67.19, for a total transaction of $139,016.11. Following the completion of the transaction, the chief accounting officer now owns 1,889 shares of the company's stock, valued at $126,921.91. The trade was a 52.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pamela J. Cramer sold 7,031 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $68.05, for a total value of $478,459.55. Following the completion of the sale, the insider now directly owns 19,209 shares in the company, valued at approximately $1,307,172.45. This represents a 26.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,386 shares of company stock worth $3,845,167 over the last three months. Corporate insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Large investors have recently made changes to their positions in the business. First Trust Advisors LP lifted its holdings in shares of Rhythm Pharmaceuticals by 67.2% during the fourth quarter. First Trust Advisors LP now owns 118,337 shares of the company's stock worth $6,625,000 after buying an additional 47,575 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Rhythm Pharmaceuticals during the 4th quarter valued at $521,000. SBI Securities Co. Ltd. bought a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $37,000. BNP Paribas Financial Markets raised its position in shares of Rhythm Pharmaceuticals by 491.0% during the fourth quarter. BNP Paribas Financial Markets now owns 85,249 shares of the company's stock valued at $4,772,000 after buying an additional 70,824 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Rhythm Pharmaceuticals during the first quarter valued at about $1,042,000.

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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