Rhythm Pharmaceuticals (NASDAQ:RYTM) PT Raised to $52.00 at Bank of America

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price objective lifted by Bank of America from $48.00 to $52.00 in a report published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages also recently weighed in on RYTM. JMP Securities assumed coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $64.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, October 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.13.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock opened at $52.32 on Monday. The stock’s fifty day moving average price is $48.61 and its two-hundred day moving average price is $44.30. The company has a market cap of $3.19 billion, a PE ratio of -11.30 and a beta of 2.07. Rhythm Pharmaceuticals has a fifty-two week low of $21.34 and a fifty-two week high of $55.64.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.16. The firm had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.79 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The company’s revenue was up 51.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.82) EPS. On average, equities analysts predict that Rhythm Pharmaceuticals will post -4.44 EPS for the current fiscal year.

Insider Activity

In related news, insider Pamela J. Cramer sold 1,395 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $49.06, for a total transaction of $68,438.70. Following the completion of the transaction, the insider now directly owns 31,735 shares of the company’s stock, valued at $1,556,919.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Pamela J. Cramer sold 1,395 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $49.06, for a total transaction of $68,438.70. Following the completion of the transaction, the insider now directly owns 31,735 shares of the company’s stock, valued at $1,556,919.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer L. Good sold 31,751 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total value of $1,663,752.40. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $157,200. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,252 shares of company stock worth $5,393,885. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RYTM. CWM LLC grew its holdings in Rhythm Pharmaceuticals by 62.6% during the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after acquiring an additional 253 shares during the period. ORG Partners LLC acquired a new stake in Rhythm Pharmaceuticals during the 2nd quarter worth about $51,000. ORG Wealth Partners LLC acquired a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth about $63,000. Quest Partners LLC grew its holdings in Rhythm Pharmaceuticals by 513.3% during the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after acquiring an additional 1,391 shares during the period. Finally, ZRC Wealth Management LLC grew its holdings in Rhythm Pharmaceuticals by 392.8% during the 1st quarter. ZRC Wealth Management LLC now owns 1,971 shares of the company’s stock worth $85,000 after acquiring an additional 1,571 shares during the period.

About Rhythm Pharmaceuticals

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.