Rhythm Pharmaceuticals (RYTM) Set to Announce Quarterly Earnings on Tuesday

Rhythm Pharmaceuticals (NASDAQ:RYTM) will be announcing its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of ($2.12) per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.70) earnings per share for the quarter, meeting the consensus estimate of ($0.70). The business had revenue of $24.23 million for the quarter, compared to analysts’ expectations of $25.38 million. Rhythm Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 238.50%. The business’s revenue was up 175.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.75) EPS. On average, analysts expect Rhythm Pharmaceuticals to post $-4 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock traded up $1.25 during trading hours on Tuesday, hitting $40.07. 140,490 shares of the stock traded hands, compared to its average volume of 611,404. The firm’s 50-day moving average price is $41.39 and its two-hundred day moving average price is $39.08. Rhythm Pharmaceuticals has a one year low of $15.50 and a one year high of $52.57.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RYTM. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday. Wells Fargo & Company lowered their price objective on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group upped their price objective on Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $47.20.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 71,774 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $50.38, for a total transaction of $3,615,974.12. Following the completion of the sale, the insider now directly owns 2,686 shares in the company, valued at approximately $135,320.68. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 71,774 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $50.38, for a total transaction of $3,615,974.12. Following the completion of the sale, the insider now directly owns 2,686 shares in the company, valued at approximately $135,320.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Yann Mazabraud sold 1,594 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $51.38, for a total transaction of $81,899.72. Following the sale, the executive vice president now owns 7,702 shares of the company’s stock, valued at $395,728.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,069 shares of company stock valued at $7,626,355. 4.70% of the stock is owned by corporate insiders.

About Rhythm Pharmaceuticals

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.