Rhythm Pharmaceuticals (RYTM) Projected to Post Quarterly Earnings on Wednesday

Rhythm Pharmaceuticals (NASDAQ:RYTM) is expected to announce its earnings results before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.71) per share and revenue of $38.48 million for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Rhythm Pharmaceuticals Trading Down 2.5 %

Rhythm Pharmaceuticals stock opened at $54.66 on Tuesday. Rhythm Pharmaceuticals has a 12-month low of $35.17 and a 12-month high of $68.58. The stock has a market cap of $3.36 billion, a P/E ratio of -12.62 and a beta of 2.14. The company has a 50-day moving average price of $57.11 and a 200 day moving average price of $54.18.

Insider Buying and Selling

In related news, CFO Hunter C. Smith sold 1,678 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $99,723.54. Following the sale, the chief financial officer now directly owns 101,186 shares of the company’s stock, valued at $6,013,483.98. This represents a 1.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the sale, the chief accounting officer now directly owns 2,070 shares in the company, valued at approximately $118,445.40. The trade was a 23.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,787 shares of company stock valued at $1,901,443 in the last ninety days. Company insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.