Rhythm Pharmaceuticals (NASDAQ:RYTM) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a hold rating to a sell rating in a report issued on Sunday morning.

A number of other research analysts have also weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 22nd. Zacks Research raised shares of Rhythm Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Guggenheim raised their price objective on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Needham & Company LLC cut their price objective on shares of Rhythm Pharmaceuticals from $139.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Finally, Telsey Advisory Group set a $143.00 target price on shares of Rhythm Pharmaceuticals in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $131.13.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM opened at $84.92 on Friday. Rhythm Pharmaceuticals has a one year low of $55.31 and a one year high of $122.20. The firm has a market cap of $5.80 billion, a P/E ratio of -27.31 and a beta of 2.14. The stock’s 50-day moving average is $90.29 and its 200-day moving average is $100.37.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.06. Rhythm Pharmaceuticals had a negative return on equity of 266.56% and a negative net margin of 103.57%.The business had revenue of $57.25 million during the quarter, compared to analyst estimates of $56.16 million. During the same period in the previous year, the firm earned ($0.72) EPS. Rhythm Pharmaceuticals’s quarterly revenue was up 36.9% compared to the same quarter last year. Equities analysts anticipate that Rhythm Pharmaceuticals will post -3.04 EPS for the current year.

Insider Activity at Rhythm Pharmaceuticals

In related news, CFO Hunter C. Smith sold 4,385 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $101.26, for a total transaction of $444,025.10. Following the completion of the transaction, the chief financial officer owned 110,512 shares in the company, valued at approximately $11,190,445.12. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher Paul German sold 5,614 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $89.56, for a total transaction of $502,789.84. Following the completion of the transaction, the chief accounting officer directly owned 160 shares of the company’s stock, valued at approximately $14,329.60. This trade represents a 97.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,267 shares of company stock valued at $2,719,955 over the last ninety days. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of large investors have recently modified their holdings of RYTM. EverSource Wealth Advisors LLC increased its position in shares of Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Rhythm Pharmaceuticals by 97.2% during the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after purchasing an additional 141 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 145 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Rhythm Pharmaceuticals by 1,110.3% in the third quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock valued at $35,000 after purchasing an additional 322 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Rhythm Pharmaceuticals by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after purchasing an additional 118 shares during the last quarter.

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.