Rhythm Pharmaceuticals, Inc. $RYTM Position Increased by Capital Research Global Investors

Capital Research Global Investors raised its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 64.7% in the 4th quarter, Holdings Channel reports. The firm owned 985,086 shares of the company’s stock after purchasing an additional 386,839 shares during the quarter. Capital Research Global Investors’ holdings in Rhythm Pharmaceuticals were worth $105,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Rhythm Pharmaceuticals by 24.3% in the fourth quarter. Vanguard Group Inc. now owns 6,210,916 shares of the company’s stock valued at $664,816,000 after acquiring an additional 1,214,489 shares during the period. RA Capital Management L.P. lifted its holdings in shares of Rhythm Pharmaceuticals by 2.2% in the 3rd quarter. RA Capital Management L.P. now owns 5,681,359 shares of the company’s stock worth $573,760,000 after purchasing an additional 120,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,375,729 shares of the company’s stock worth $147,283,000 after purchasing an additional 12,900 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Rhythm Pharmaceuticals by 18.5% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,267,158 shares of the company’s stock worth $135,637,000 after purchasing an additional 198,154 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Rhythm Pharmaceuticals by 51.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,188,069 shares of the company’s stock worth $119,983,000 after purchasing an additional 404,510 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RYTM shares. Citizens Jmp cut their price target on Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating on the stock in a report on Tuesday, March 17th. Morgan Stanley cut their price target on Rhythm Pharmaceuticals from $150.00 to $136.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Telsey Advisory Group set a $143.00 price target on Rhythm Pharmaceuticals in a report on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada raised their price target on Rhythm Pharmaceuticals from $136.00 to $137.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.81.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock opened at $85.93 on Tuesday. Rhythm Pharmaceuticals, Inc. has a 12-month low of $60.70 and a 12-month high of $122.20. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of -27.45 and a beta of 1.92. The business has a 50 day simple moving average of $87.53 and a 200 day simple moving average of $96.69.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The business had revenue of $60.11 million during the quarter, compared to analyst estimates of $55.78 million. During the same period in the prior year, the company posted ($0.81) EPS. The business’s revenue for the quarter was up 83.8% compared to the same quarter last year. On average, equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -3.07 EPS for the current fiscal year.

Rhythm Pharmaceuticals Company Profile

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.