Rhythm Pharmaceuticals (NASDAQ:RYTM) Posts Earnings Results, Misses Estimates By $1.46 EPS


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Rhythm Pharmaceuticals (NASDAQ:RYTM) issued its quarterly earnings data on Sunday. The company reported ($1.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($1.46), Fidelity Earnings reports.

Shares of RYTM stock traded down $0.42 during trading hours on Tuesday, reaching $21.53. The stock had a trading volume of 369,085 shares, compared to its average volume of 455,183. The stock’s fifty day simple moving average is $22.03 and its 200 day simple moving average is $26.59. The firm has a market capitalization of $1.08 billion, a PE ratio of -7.22 and a beta of 1.57. Rhythm Pharmaceuticals has a 12 month low of $17.27 and a 12 month high of $43.26.

In other news, CEO David P. Meeker purchased 10,000 shares of the business’s stock in a transaction on Tuesday, March 30th. The stock was purchased at an average cost of $20.17 per share, with a total value of $201,700.00. Following the acquisition, the chief executive officer now directly owns 111,335 shares in the company, valued at $2,245,626.95. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 9.49% of the company’s stock.

A number of equities analysts have recently weighed in on RYTM shares. Canaccord Genuity boosted their target price on Rhythm Pharmaceuticals from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, January 27th. Morgan Stanley raised their target price on Rhythm Pharmaceuticals from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, March 9th. LADENBURG THALM/SH SH lifted their target price on Rhythm Pharmaceuticals from $43.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 27th. Stifel Nicolaus increased their price target on shares of Rhythm Pharmaceuticals from $36.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, January 27th. Finally, Zacks Investment Research raised shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, March 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $46.86.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic diseases of obesity. The company's lead product candidate is IMCIVREE, a potent 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.

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Earnings History for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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