Rhythm Pharmaceuticals (NASDAQ:RYTM) Given New $94.00 Price Target at Stifel Nicolaus

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) had its price objective increased by analysts at Stifel Nicolaus from $78.00 to $94.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price objective would suggest a potential upside of 47.75% from the stock's previous close.

RYTM has been the subject of a number of other research reports. HC Wainwright reissued a "buy" rating and set a $80.00 target price (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target on the stock in a research note 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 research note on Wednesday, May 7th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $76.62.

Rhythm Pharmaceuticals Trading Up 3.7%

Rhythm Pharmaceuticals stock traded up $2.29 during mid-day trading on Thursday, reaching $63.62. The company's stock had a trading volume of 309,714 shares, compared to its average volume of 555,186. Rhythm Pharmaceuticals has a twelve month low of $36.27 and a twelve month high of $68.58. The business has a 50 day moving average price of $59.55 and a 200-day moving average price of $57.54. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -14.69 and a beta of 2.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.12). The company had revenue of $37.72 million for the quarter, compared to the consensus estimate of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm's quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.35) earnings per share. On average, equities analysts expect that Rhythm Pharmaceuticals will post -4.32 EPS for the current fiscal year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 6,745 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $65.08, for a total value of $438,964.60. Following the completion of the transaction, the executive vice president now owns 37,655 shares in the company, valued at $2,450,587.40. This represents a 15.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pamela J. Cramer sold 7,031 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $65.09, for a total value of $457,647.79. Following the sale, the insider now owns 19,209 shares in the company, valued at $1,250,313.81. The trade was a 26.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,630 shares of company stock worth $7,107,346. Insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in RYTM. Westfield Capital Management Co. LP bought a new stake in Rhythm Pharmaceuticals in the first quarter worth about $71,038,000. Janus Henderson Group PLC raised its holdings in shares of Rhythm Pharmaceuticals by 103.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company's stock worth $68,309,000 after purchasing an additional 621,432 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Rhythm Pharmaceuticals by 75.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company's stock worth $63,515,000 after purchasing an additional 513,901 shares during the period. Marshall Wace LLP lifted its stake in Rhythm Pharmaceuticals by 70.4% in the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company's stock valued at $38,783,000 after purchasing an additional 286,188 shares during the last quarter. Finally, Siren L.L.C. bought a new position in Rhythm Pharmaceuticals during the first quarter valued at $14,701,000.

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.