FY2024 Earnings Forecast for RYTM Issued By HC Wainwright

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) – HC Wainwright dropped their FY2024 earnings per share (EPS) estimates for Rhythm Pharmaceuticals in a research report issued to clients and investors on Thursday, November 7th. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings per share of ($4.45) for the year, down from their previous estimate of ($4.42). HC Wainwright currently has a “Buy” rating and a $69.00 price target on the stock. The consensus estimate for Rhythm Pharmaceuticals’ current full-year earnings is ($4.41) per share. HC Wainwright also issued estimates for Rhythm Pharmaceuticals’ Q4 2024 earnings at ($0.84) EPS, Q1 2025 earnings at ($0.81) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.70) EPS, Q4 2025 earnings at ($0.61) EPS and FY2025 earnings at ($2.87) EPS.

Other analysts have also recently issued reports about the stock. TD Cowen boosted their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Bank of America boosted their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. JMP Securities began coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price target for the company. Needham & Company LLC upped their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Guggenheim started coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $62.30.

Rhythm Pharmaceuticals Stock Performance

RYTM opened at $65.58 on Monday. The stock has a 50-day moving average of $51.37 and a 200-day moving average of $46.06. Rhythm Pharmaceuticals has a 52-week low of $27.12 and a 52-week high of $68.58. The company has a market cap of $4.03 billion, a PE ratio of -15.15 and a beta of 2.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.07. The business had revenue of $33.20 million during the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Rhythm Pharmaceuticals’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.76) EPS.

Institutional Trading of Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC grew its position in shares of Rhythm Pharmaceuticals by 62.6% during the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after buying an additional 253 shares during the period. ORG Partners LLC bought a new position in Rhythm Pharmaceuticals in the second quarter valued at approximately $51,000. ORG Wealth Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the third quarter valued at approximately $63,000. Quest Partners LLC raised its holdings in shares of Rhythm Pharmaceuticals by 513.3% during the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after acquiring an additional 1,391 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after acquiring an additional 391 shares in the last quarter.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 17,501 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total value of $868,924.65. Following the sale, the director now directly owns 3,000 shares in the company, valued at $148,950. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 17,501 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $49.65, for a total transaction of $868,924.65. Following the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $148,950. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pamela J. Cramer sold 3,200 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $50.01, for a total transaction of $160,032.00. Following the completion of the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $675,135. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,539 shares of company stock valued at $3,417,545. Corporate insiders own 5.60% of the company’s stock.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare 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.