Rhythm Pharmaceuticals’ (RYTM) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a research report sent to investors on Monday,Benzinga reports. They currently have a $69.00 target price on the stock.

A number of other brokerages have also recently issued reports on RYTM. The Goldman Sachs Group boosted their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Bank of America boosted 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. Needham & Company LLC raised their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. TD Cowen lifted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, JMP Securities began coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target for the company. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $66.90.

Rhythm Pharmaceuticals Stock Down 0.3 %

NASDAQ:RYTM opened at $55.85 on Monday. The company has a market cap of $3.43 billion, a P/E ratio of -12.90 and a beta of 2.14. The firm’s 50 day moving average is $56.62 and its two-hundred day moving average is $50.36. Rhythm Pharmaceuticals has a fifty-two week low of $35.17 and a fifty-two week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. During the same period last year, the company posted ($0.76) EPS. The business’s quarterly revenue was up 47.6% on a year-over-year basis. Research analysts forecast that Rhythm Pharmaceuticals will post -4.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, EVP Jennifer Kayden Lee sold 66,861 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the sale, the executive vice president now directly owns 972 shares in the company, valued at $64,472.76. The trade was a 98.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Shulman sold 13,281 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $66.44, for a total value of $882,389.64. The disclosure for this sale can be found here. Insiders have sold 84,830 shares of company stock worth $5,622,000 in the last quarter. 5.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC acquired a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at about $63,000. Quest Partners LLC raised its stake in Rhythm Pharmaceuticals by 513.3% during the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after buying an additional 1,391 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rhythm Pharmaceuticals by 21.5% during the 3rd 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. Principal Financial Group Inc. lifted its holdings in Rhythm Pharmaceuticals by 32.8% during the 2nd quarter. Principal Financial Group Inc. now owns 9,532 shares of the company’s stock worth $391,000 after buying an additional 2,352 shares during the last quarter. Finally, Creative Planning acquired a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter worth approximately $450,000.

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.