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 Stock Up 9.3 %

Rhythm Pharmaceuticals stock traded up $1.86 during mid-day trading on Friday, reaching $21.80. 1,304,440 shares of the stock traded hands, compared to its average volume of 3,245,926. The business's 50-day moving average is $9.12 and its 200-day moving average is $8.05. Rhythm Pharmaceuticals has a 12-month low of $3.04 and a 12-month high of $24.44.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RYTM. LADENBURG THALM/SH SH lifted their target price on shares of Rhythm Pharmaceuticals from $15.00 to $23.00 in a research note on Wednesday, July 13th. The Goldman Sachs Group upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $28.00 price objective for the company in a report on Sunday, August 7th. Morgan Stanley boosted their target price on shares of Rhythm Pharmaceuticals from $8.00 to $16.00 and gave the company an "equal weight" rating in a report on Wednesday, August 3rd. Stifel Nicolaus lifted their price target on shares of Rhythm Pharmaceuticals from $25.00 to $37.00 in a research report on Wednesday, July 20th. Finally, Bank of America upgraded shares of Rhythm Pharmaceuticals from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $8.00 to $20.00 in a report on Friday, August 5th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.44.

Insider Activity 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 shares were sold at an average price of $4.08, for a total value of $30,791.76. Following the completion of the transaction, the chief financial officer now owns 57,614 shares of the company's stock, valued at approximately $235,065.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by company insiders.