Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock Price Expected to Rise, Citizens Jmp Analyst Says

by · The Cerbat Gem

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) had its price target raised by stock analysts at Citizens Jmp from $141.00 to $167.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective suggests a potential upside of 41.98% from the stock’s previous close.

A number of other brokerages have also recently issued reports on RYTM. Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday. Canaccord Genuity Group raised their price objective on shares of Rhythm Pharmaceuticals from $105.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Wall Street Zen downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. The Goldman Sachs Group cut their price target on shares of Rhythm Pharmaceuticals from $157.00 to $139.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $121.27.

Get Our Latest Stock Analysis on RYTM

Rhythm Pharmaceuticals Stock Up 12.3%

Shares of RYTM opened at $117.62 on Friday. The stock has a market cap of $7.85 billion, a P/E ratio of -37.94 and a beta of 1.96. The business’s 50 day moving average price is $105.01 and its 200-day moving average price is $91.67. Rhythm Pharmaceuticals has a 52 week low of $45.90 and a 52 week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. The company had revenue of $51.30 million for the quarter, compared to analysts’ expectations of $50.71 million. On average, equities analysts anticipate that Rhythm Pharmaceuticals will post -4.32 EPS for the current year.

Insider Transactions at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 9,748 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $115.24, for a total value of $1,123,359.52. Following the sale, the insider owned 8,509 shares in the company, valued at approximately $980,577.16. This trade represents a 53.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 27,000 shares of company stock valued at $3,064,490 in the last 90 days. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Rhythm Pharmaceuticals by 4.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,568 shares of the company’s stock worth $259,000 after acquiring an additional 110 shares during the period. Captrust Financial Advisors lifted its holdings in Rhythm Pharmaceuticals by 0.7% in the second quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock valued at $1,104,000 after acquiring an additional 114 shares during the period. Smartleaf Asset Management LLC boosted its position in Rhythm Pharmaceuticals by 97.2% in the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after purchasing an additional 141 shares during the last quarter. Optiver Holding B.V. grew its stake in shares of Rhythm Pharmaceuticals by 65.2% during the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after purchasing an additional 144 shares during the period. Finally, Teacher Retirement System of Texas increased its position in shares of Rhythm Pharmaceuticals by 1.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,960 shares of the company’s stock valued at $1,309,000 after purchasing an additional 188 shares during the last quarter.

Rhythm Pharmaceuticals Company Profile

(Get Free Report)

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.

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