Geode Capital Management LLC Increases Stock Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Geode Capital Management LLC increased its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 0.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,375,729 shares of the company’s stock after purchasing an additional 12,900 shares during the period. Geode Capital Management LLC’s holdings in Rhythm Pharmaceuticals were worth $147,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp purchased a new position in Rhythm Pharmaceuticals during the 4th quarter worth $9,202,000. Penserra Capital Management LLC purchased a new position in Rhythm Pharmaceuticals during the 3rd quarter worth $3,073,000. Hillsdale Investment Management Inc. purchased a new position in Rhythm Pharmaceuticals during the 3rd quarter worth $4,302,000. Jennison Associates LLC grew its stake in Rhythm Pharmaceuticals by 123.2% during the 4th quarter. Jennison Associates LLC now owns 918,567 shares of the company’s stock worth $98,323,000 after buying an additional 507,017 shares during the last quarter. Finally, Capital Research Global Investors acquired a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth about $60,417,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Stifel Nicolaus set a $131.00 price target on Rhythm Pharmaceuticals in a research report on Thursday, February 26th. Guggenheim lifted their price target on Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Needham & Company LLC lowered their price target on Rhythm Pharmaceuticals from $139.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Bank of America cut their price target on shares of Rhythm Pharmaceuticals from $145.00 to $139.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Finally, HC Wainwright reduced their price target on shares of Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $131.81.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $87.61 on Friday. The firm has a fifty day moving average price of $87.41 and a 200 day moving average price of $96.90. Rhythm Pharmaceuticals, Inc. has a 1 year low of $60.70 and a 1 year high of $122.20. The stock has a market cap of $6.00 billion, a PE ratio of -27.99 and a beta of 1.91.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.86) by $0.03. The firm had revenue of $60.11 million during the quarter, compared to analysts’ expectations of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The firm’s revenue was up 83.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.81) earnings per share. As a group, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -3.18 EPS for the current year.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a clinical?stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin?4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.