Rhythm Pharmaceuticals - RYTM Stock Forecast, Price & News

Rhythm Pharmaceuticals, Inc., a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic diseases of obesity. The company's lead product candidate is IMCIVREE, a potent 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. It is also developing setmelanotide, which is in Phase II clinical trials for treating POMC or LEPR heterozygous deficiency obesities, steroid receptor coactivator 1 deficiency obesity, SH2B1 deficiency obesity, MC4 receptor deficiency obesity, Smith-Magenis syndrome obesity, POMC epigenetic disorders, and other MC4R disorders. Rhythm Pharmaceuticals, Inc. has a collaborative research agreement with the Clinical Registry Investigating Bardet-Biedl Syndrome. The company was formerly known as Rhythm Metabolic, Inc. and changed its name to Rhythm Pharmaceuticals, Inc. in October 2015. Rhythm Pharmaceuticals, Inc. was founded in 2008 and is headquartered in Boston, Massachusetts.

Rhythm Pharmaceuticals Price Performance

RYTM traded up $1.86 on Friday, hitting $21.80. The company had a trading volume of 1,304,440 shares, compared to its average volume of 3,245,926. The stock has a fifty day simple moving average of $9.12 and a 200-day simple moving average of $8.05. The firm has a market capitalization of $1.11 billion, a P/E ratio of -6.25 and a beta of 2.53. Rhythm Pharmaceuticals has a 52-week low of $3.04 and a 52-week high of $24.44.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RYTM shares. Bank of America upgraded Rhythm Pharmaceuticals from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $8.00 to $20.00 in a research report on Friday, August 5th. Needham & Company LLC dropped their price target on shares of Rhythm Pharmaceuticals from $40.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, June 17th. Wells Fargo & Company raised their price target on shares of Rhythm Pharmaceuticals from $22.00 to $35.00 in a report on Tuesday, August 2nd. Morgan Stanley upped their price objective on shares of Rhythm Pharmaceuticals from $8.00 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 3rd. Finally, The Goldman Sachs Group raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $28.00 target price on the stock in a research note on Sunday, August 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Rhythm Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $28.44.

Insider Transactions at Rhythm Pharmaceuticals

In related news, CFO Hunter C. Smith sold 7,547 shares of the company's stock in a transaction on Friday, July 1st. The stock was sold at an average price of $4.08, for a total value of $30,791.76. Following the sale, the chief financial officer now directly owns 57,614 shares of the company's stock, valued at $235,065.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.80% of the company's stock.