Rhythm Pharmaceuticals (NASDAQ:RYTM) Issues Earnings Results

Rhythm Pharmaceuticals (NASDAQ:RYTM) released its quarterly earnings results on Wednesday. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03), Zacks reports. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock traded up $0.92 during mid-day trading on Wednesday, reaching $51.95. The stock had a trading volume of 59,243 shares, compared to its average volume of 478,137. The firm has a market capitalization of $3.19 billion, a PE ratio of -11.93 and a beta of 2.14. Rhythm Pharmaceuticals has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The stock’s 50-day simple moving average is $56.99 and its 200-day simple moving average is $54.22.

Analyst Ratings Changes

Several research firms have recently weighed in on RYTM. TD Cowen increased their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. The Goldman Sachs Group boosted their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.09.

Insider Transactions at Rhythm Pharmaceuticals

In other news, EVP Jennifer Kayden Lee sold 1,815 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $56.39, for a total transaction of $102,347.85. Following the completion of the sale, the executive vice president now directly owns 3,598 shares of the company’s stock, valued at $202,891.22. The trade was a 33.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David P. Meeker sold 9,896 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $566,249.12. Following the completion of the sale, the chief executive officer now owns 201,281 shares in the company, valued at $11,517,298.82. This represents a 4.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,787 shares of company stock valued at $1,901,443 over the last ninety days. 5.60% of the stock is owned by company insiders.

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.