Rhythm Pharmaceuticals (NASDAQ:RYTM) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a sell rating to a hold rating in a research report report published on Saturday.

Several other analysts have also commented on the company. Citizens Jmp decreased their price target on Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating on the stock in a research note on Tuesday, March 17th. Guggenheim increased their price objective on Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Telsey Advisory Group set a $143.00 price objective on Rhythm Pharmaceuticals in a report on Thursday, March 12th. Citigroup lowered their target price on shares of Rhythm Pharmaceuticals from $136.00 to $131.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Finally, Bank of America dropped their target price on shares of Rhythm Pharmaceuticals from $145.00 to $139.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $131.81.

Rhythm Pharmaceuticals Stock Down 2.1%

Shares of RYTM opened at $94.17 on Friday. The company has a 50-day moving average price of $87.93 and a two-hundred day moving average price of $99.24. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of -30.09 and a beta of 1.94. Rhythm Pharmaceuticals has a 12 month low of $55.31 and a 12 month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $60.11 million for 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 company’s revenue was up 83.8% compared to the same quarter last year. Equities research analysts expect that Rhythm Pharmaceuticals will post -3.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Hunter C. Smith sold 4,385 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $101.26, for a total transaction of $444,025.10. Following the sale, 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 Securities & Exchange Commission, which is accessible through this link. 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 value of $502,789.84. Following the completion of the sale, the chief accounting officer owned 160 shares of the company’s stock, valued at approximately $14,329.60. This trade represents a 97.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,639 shares of company stock valued at $2,017,217 over the last ninety days. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its position in Rhythm Pharmaceuticals by 956.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 13,254 shares of the company’s stock worth $1,339,000 after purchasing an additional 12,000 shares during the last quarter. EFG Asset Management North America Corp. acquired a new position in Rhythm Pharmaceuticals during the 3rd quarter worth $2,047,000. Penserra Capital Management LLC bought a new position in Rhythm Pharmaceuticals in the 3rd quarter valued at $3,073,000. M&T Bank Corp acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $9,202,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at $4,302,000.

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.