Rhythm Pharmaceuticals (NASDAQ:RYTM) Price Target Raised to $70.00

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its target price increased by HC Wainwright from $69.00 to $70.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Rhythm Pharmaceuticals’ FY2026 earnings at ($1.49) EPS.

A number of other research analysts have also issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price on the stock. JMP Securities restated a “market outperform” rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. TD Cowen upped 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. The Goldman Sachs Group increased their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Canaccord Genuity Group increased their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.08.

Rhythm Pharmaceuticals Trading Down 0.5 %

Shares of NASDAQ RYTM opened at $52.97 on Monday. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -12.23 and a beta of 2.30. The company’s 50-day moving average price is $56.79 and its 200 day moving average price is $54.48. Rhythm Pharmaceuticals has a 52 week low of $35.17 and a 52 week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). The firm had revenue of $41.83 million during the quarter, compared to analysts’ expectations of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. As a group, research analysts expect that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 2,215 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $126,742.30. Following the completion of the sale, the chief financial officer now owns 109,929 shares of the company’s stock, valued at $6,290,137.38. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer Kayden Lee sold 1,815 shares of the stock in a transaction that occurred on 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. This trade represents a 33.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,787 shares of company stock worth $1,901,443. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Rhythm Pharmaceuticals

Several large investors have recently bought and sold shares of RYTM. Creative Planning bought a new stake in shares of Rhythm Pharmaceuticals in the third quarter worth $450,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Rhythm Pharmaceuticals by 21.5% in the third 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. Harbor Capital Advisors Inc. increased its stake in shares of Rhythm Pharmaceuticals by 19.5% in the third quarter. Harbor Capital Advisors Inc. now owns 41,368 shares of the company’s stock worth $2,167,000 after buying an additional 6,741 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Rhythm Pharmaceuticals by 241.9% in the third quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock worth $1,707,000 after buying an additional 23,054 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Rhythm Pharmaceuticals by 158.0% in the third quarter. Victory Capital Management Inc. now owns 18,186 shares of the company’s stock worth $953,000 after buying an additional 11,137 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.