Rhythm Pharmaceuticals (NASDAQ:RYTM) Now Covered by Jefferies Financial Group

Stock analysts at Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a report issued on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $80.00 price target on the stock. Jefferies Financial Group’s target price indicates a potential upside of 42.91% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. JMP Securities restated a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Oppenheimer started coverage on shares of Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective for the company. TD Cowen boosted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. HC Wainwright reissued a “buy” rating and issued a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, Needham & Company LLC raised their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $68.09.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock opened at $55.98 on Thursday. The stock has a fifty day moving average of $57.29 and a 200-day moving average of $50.89. The stock has a market capitalization of $3.44 billion, a P/E ratio of -12.93 and a beta of 2.14. Rhythm Pharmaceuticals has a 52 week low of $35.17 and a 52 week high of $68.58.

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, topping analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The business had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same period in the prior year, the company earned ($0.76) EPS. The firm’s quarterly revenue was up 47.6% compared to the same quarter last year. On average, research analysts forecast that Rhythm Pharmaceuticals will post -4.34 earnings per share for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 4,688 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $65.00, for a total value of $304,720.00. Following the completion of the transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $877,500. This trade represents a 25.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jennifer Kayden Lee sold 66,861 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the sale, the executive vice president now directly owns 972 shares in the company, valued at $64,472.76. This trade represents a 98.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,830 shares of company stock worth $5,622,000. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. ORG Wealth Partners LLC bought a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter worth $63,000. Quest Partners LLC increased its stake in Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after purchasing an additional 1,391 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after purchasing an additional 391 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 32.8% during the second quarter. Principal Financial Group Inc. now owns 9,532 shares of the company’s stock valued at $391,000 after purchasing an additional 2,352 shares during the period. Finally, Creative Planning bought a new stake in Rhythm Pharmaceuticals during the 3rd quarter valued at $450,000.

Rhythm Pharmaceuticals Company Profile

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.