Joseph Shulman Sells 1,281 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $76,129.83. Following the sale, the insider now directly owns 2,657 shares in the company, valued at $157,905.51. The trade was a 32.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Joseph Shulman also recently made the following trade(s):

• On Monday, November 11th, Joseph Shulman sold 13,281 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $66.44, for a total transaction of $882,389.64.

Rhythm Pharmaceuticals Stock Up 1.8 %

Shares of RYTM stock opened at $61.02 on Thursday. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of -14.09 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58. The stock has a 50-day moving average price of $57.37 and a 200 day moving average price of $53.19.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same quarter in the previous year, the company earned ($0.76) EPS. Rhythm Pharmaceuticals’s revenue was up 47.6% on a year-over-year basis. Sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Bank of America upped their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. The Goldman Sachs Group raised their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. JMP Securities reissued a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Oppenheimer started coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an “outperform” rating and a $76.00 target price for the company. Finally, TD Cowen lifted their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.09.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. SRS Capital Advisors Inc. raised its position in shares of Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after acquiring an additional 400 shares during the last quarter. Raleigh Capital Management Inc. bought a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at about $28,000. R Squared Ltd acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $44,000. ORG Wealth Partners LLC acquired a new position in Rhythm Pharmaceuticals in the third quarter valued at about $63,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Rhythm Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after buying an additional 391 shares during the last quarter.

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.