Rhythm Pharmaceuticals (NASDAQ:RYTM) Given Buy Rating at HC Wainwright

Rhythm Pharmaceuticals (NASDAQ:RYTM)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $69.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 15.12% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. JMP Securities assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price objective on the stock. Guggenheim assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a “buy” rating and a $70.00 price objective for the company. Bank of America boosted their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th. TD Cowen boosted their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.30.

Rhythm Pharmaceuticals Stock Up 1.5 %

Shares of Rhythm Pharmaceuticals stock opened at $59.94 on Monday. The firm has a market cap of $3.68 billion, a PE ratio of -13.84 and a beta of 2.09. The business’s fifty day simple moving average is $53.35 and its 200-day simple moving average is $47.22. Rhythm Pharmaceuticals has a 52 week low of $31.52 and a 52 week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.07. The company had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. Rhythm Pharmaceuticals’s revenue was up 47.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.76) EPS. As a group, equities analysts expect that Rhythm Pharmaceuticals will post -4.36 earnings per share for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 4,099 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $50.03, for a total value of $205,072.97. Following the sale, the insider now owns 13,500 shares of the company’s stock, valued at approximately $675,405. The trade was a 23.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynn A. Tetrault sold 17,501 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total value of $868,924.65. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $148,950. This trade represents a 85.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 138,181 shares of company stock valued at $8,359,750. 5.60% of the stock is owned by company insiders.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC grew its stake in shares of Rhythm Pharmaceuticals by 348.9% during the 2nd quarter. SG Americas Securities LLC now owns 33,727 shares of the company’s stock worth $1,385,000 after purchasing an additional 26,214 shares during the period. Castleark Management LLC acquired a new stake in Rhythm Pharmaceuticals in the first quarter valued at $2,769,000. Bayesian Capital Management LP purchased a new position in shares of Rhythm Pharmaceuticals in the first quarter valued at $665,000. Principal Financial Group Inc. grew its stake in Rhythm Pharmaceuticals by 241.9% in the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock valued at $1,707,000 after acquiring an additional 23,054 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. raised its position in Rhythm Pharmaceuticals by 8.3% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock worth $97,366,000 after acquiring an additional 181,125 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.