Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives $131.13 Average Price Target from Analysts
by Teresa Graham · The Cerbat GemRhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the nineteen research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, fifteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $131.1250.
A number of research firms have recently weighed in on RYTM. Telsey Advisory Group set a $143.00 target price on shares of Rhythm Pharmaceuticals in a report on Thursday, March 12th. Wells Fargo & Company boosted their target price on shares of Rhythm Pharmaceuticals from $136.00 to $143.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. HC Wainwright dropped their price target on shares of Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Canaccord Genuity Group dropped their price target on shares of Rhythm Pharmaceuticals from $141.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Guggenheim lifted their price target on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday, February 27th.
Check Out Our Latest Analysis on RYTM
Rhythm Pharmaceuticals Stock Down 2.0%
Rhythm Pharmaceuticals stock opened at $84.39 on Wednesday. The company’s 50-day moving average price is $92.86 and its 200-day moving average price is $100.93. Rhythm Pharmaceuticals has a twelve month low of $55.31 and a twelve month high of $122.20. The company has a market cap of $5.76 billion, a PE ratio of -27.14 and a beta of 2.14.
Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.06. Rhythm Pharmaceuticals had a negative net margin of 103.57% and a negative return on equity of 266.56%. The firm had revenue of $57.25 million for the quarter, compared to the consensus estimate of $56.16 million. During the same period in the previous year, the firm posted ($0.72) EPS. The business’s quarterly revenue was up 36.9% on a year-over-year basis. As a group, sell-side analysts expect that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current fiscal year.
Insider Transactions at Rhythm Pharmaceuticals
In related news, CAO Christopher Paul German sold 5,614 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $89.56, for a total transaction of $502,789.84. Following the completion of the transaction, the chief accounting officer directly owned 160 shares of the company’s stock, valued at approximately $14,329.60. The trade was a 97.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Hunter C. Smith sold 4,385 shares of Rhythm Pharmaceuticals stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $101.26, for a total transaction of $444,025.10. Following the transaction, the chief financial officer directly owned 110,512 shares of the company’s stock, valued at approximately $11,190,445.12. This represents a 3.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 27,267 shares of company stock valued at $2,719,955. 6.10% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Rhythm Pharmaceuticals
A number of large investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its stake in shares of Rhythm Pharmaceuticals by 32.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 11,771 shares of the company’s stock worth $1,260,000 after purchasing an additional 2,903 shares during the period. Invesco Ltd. boosted its stake in shares of Rhythm Pharmaceuticals by 102.8% during the 4th quarter. Invesco Ltd. now owns 291,150 shares of the company’s stock worth $31,165,000 after purchasing an additional 147,595 shares during the period. Empowered Funds LLC boosted its stake in shares of Rhythm Pharmaceuticals by 94.1% during the 4th quarter. Empowered Funds LLC now owns 4,164 shares of the company’s stock worth $446,000 after purchasing an additional 2,019 shares during the period. XTX Topco Ltd purchased a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $1,117,000. Finally, Wellington Management Group LLP boosted its position in Rhythm Pharmaceuticals by 922.0% in the 4th quarter. Wellington Management Group LLP now owns 250,156 shares of the company’s stock valued at $26,777,000 after buying an additional 225,679 shares during the period.
Rhythm Pharmaceuticals Company Profile
Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.
The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.