BidaskClub upgraded shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a buy rating to a strong-buy rating in a report released on Thursday morning.
A number of other equities analysts also recently weighed in on the company. Needham & Company LLC set a $42.00 target price on Rhythm Pharmaceuticals and gave the company a buy rating in a report on Friday, December 14th. Stifel Nicolaus reiterated a hold rating on shares of Rhythm Pharmaceuticals in a report on Thursday, December 13th. Zacks Investment Research downgraded Rhythm Pharmaceuticals from a hold rating to a sell rating in a report on Thursday, November 15th. Finally, ValuEngine upgraded Rhythm Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $38.25.
RYTM stock traded down $0.29 during mid-day trading on Thursday, reaching $29.01. 81,400 shares of the stock traded hands, compared to its average volume of 123,013. Rhythm Pharmaceuticals has a 52-week low of $16.80 and a 52-week high of $37.23. The firm has a market capitalization of $998.94 million, a PE ratio of -10.25 and a beta of 1.85.
Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Friday, November 9th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.06). As a group, analysts forecast that Rhythm Pharmaceuticals will post -2.2 EPS for the current year.
In other Rhythm Pharmaceuticals news, insider Der Ploeg Leonardus H.T. Van sold 38,000 shares of the stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $30.09, for a total transaction of $1,143,420.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Keith Michael Gottesdiener sold 16,500 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $30.08, for a total value of $496,320.00. The disclosure for this sale can be found here. Corporate insiders own 4.93% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc boosted its position in shares of Rhythm Pharmaceuticals by 46.6% in the third quarter. Legal & General Group Plc now owns 2,675 shares of the company’s stock valued at $78,000 after acquiring an additional 850 shares during the period. Vanguard Group Inc boosted its position in shares of Rhythm Pharmaceuticals by 12.3% in the third quarter. Vanguard Group Inc now owns 1,048,186 shares of the company’s stock valued at $30,575,000 after acquiring an additional 115,177 shares during the period. Federated Investors Inc. PA boosted its position in shares of Rhythm Pharmaceuticals by 216.2% in the third quarter. Federated Investors Inc. PA now owns 790,421 shares of the company’s stock valued at $23,057,000 after acquiring an additional 540,421 shares during the period. Vanguard Group Inc. boosted its position in shares of Rhythm Pharmaceuticals by 12.3% in the third quarter. Vanguard Group Inc. now owns 1,048,186 shares of the company’s stock valued at $30,575,000 after acquiring an additional 115,177 shares during the period. Finally, Teachers Advisors LLC boosted its position in shares of Rhythm Pharmaceuticals by 36.1% in the third quarter. Teachers Advisors LLC now owns 27,766 shares of the company’s stock valued at $810,000 after acquiring an additional 7,360 shares during the period. Institutional investors own 90.42% of the company’s stock.
Rhythm Pharmaceuticals Company Profile
Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of peptide therapeutics for the treatment of rare genetic disorders of obesity in the United States. Its peptide candidates include Setmelanotide, a melanocortin-4 receptor agonist, which is in Phase III clinical trial to treat POMC and leptin receptor deficiency obesity; and Phase II clinical trial for Bardet-Biedl and Alström syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.
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