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 21.3 %

RYTM Stock opened at $26.45 on Tuesday. The business has a 50 day moving average price of $9.58 and a 200 day moving average price of $8.20. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -7.58 and a beta of 2.52. Rhythm Pharmaceuticals has a fifty-two week low of $3.04 and a fifty-two week high of $27.29.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Rhythm Pharmaceuticals from $25.00 to $37.00 in a research report on Wednesday, July 20th. The Goldman Sachs Group upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $28.00 target price on the stock in a research report on Sunday, August 7th. LADENBURG THALM/SH SH increased their target price on Rhythm Pharmaceuticals from $15.00 to $23.00 in a research report on Wednesday, July 13th. Needham & Company LLC decreased their target price on Rhythm Pharmaceuticals from $40.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, June 17th. Finally, Morgan Stanley increased their target price on Rhythm Pharmaceuticals from $8.00 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.44.

Insider Activity

In related news, CFO Hunter C. Smith sold 7,547 shares of Rhythm Pharmaceuticals stock in a transaction that occurred 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 in the company, valued at $235,065.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.80% of the company's stock.