Analysts Set Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) PT at $69.46

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have received an average rating of “Moderate Buy” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $69.46.

Several research firms have commented on RYTM. Morgan Stanley restated an “overweight” rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, March 24th. Stifel Nicolaus started coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They issued a “buy” rating and a $78.00 price target on the stock. Needham & Company LLC lifted their price target on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Finally, Canaccord Genuity Group upped their price target on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, February 27th.

Insider Buying and Selling

In other news, CFO Hunter C. Smith sold 2,215 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $126,742.30. Following the completion of the transaction, the chief financial officer now owns 109,929 shares of the company’s stock, valued at $6,290,137.38. This trade represents a 1.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Yann Mazabraud sold 75,000 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $51.48, for a total value of $3,861,000.00. Following the transaction, the executive vice president now owns 40,370 shares of the company’s stock, valued at $2,078,247.60. This represents a 65.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 108,131 shares of company stock valued at $5,781,098. 5.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in RYTM. Intech Investment Management LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the 3rd quarter valued at $649,000. Charles Schwab Investment Management Inc. grew its position in Rhythm Pharmaceuticals by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 433,866 shares of the company’s stock worth $22,730,000 after purchasing an additional 5,908 shares in the last quarter. FMR LLC increased its holdings in Rhythm Pharmaceuticals by 79.7% during the third quarter. FMR LLC now owns 50,295 shares of the company’s stock worth $2,635,000 after buying an additional 22,306 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Rhythm Pharmaceuticals by 307.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock worth $756,000 after acquiring an additional 10,882 shares during the last quarter. Finally, Alkeon Capital Management LLC lifted its holdings in Rhythm Pharmaceuticals by 16.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock worth $61,176,000 after purchasing an additional 167,700 shares in the last quarter.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM opened at $46.95 on Friday. The company has a market capitalization of $2.97 billion, a PE ratio of -10.84 and a beta of 2.32. The company’s 50 day moving average price is $54.57 and its 200 day moving average price is $55.07. Rhythm Pharmaceuticals has a 52 week low of $35.17 and a 52 week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $41.83 million for the quarter, compared to analysts’ expectations of $38.48 million. On average, equities analysts forecast that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals Company Profile

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.