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 Performance

RYTM opened at $21.80 on Monday. The business has a 50-day moving average of $9.12 and a two-hundred day moving average of $8.06. Rhythm Pharmaceuticals has a 12 month low of $3.04 and a 12 month high of $24.44.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RYTM. Needham & Company LLC cut their price target on Rhythm Pharmaceuticals from $40.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, June 17th. Bank of America raised Rhythm Pharmaceuticals from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $8.00 to $20.00 in a research note on Friday, August 5th. Morgan Stanley lifted their price objective on Rhythm Pharmaceuticals from $8.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 3rd. 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 research report on Sunday, August 7th. Finally, Stifel Nicolaus lifted their price objective on Rhythm Pharmaceuticals from $25.00 to $37.00 in a research report on Wednesday, July 20th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $28.44.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 7,547 shares of Rhythm Pharmaceuticals stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $4.08, for a total value of $30,791.76. Following the completion of the sale, the chief financial officer now owns 57,614 shares in the company, valued at approximately $235,065.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is owned by company insiders.