HC Wainwright Reiterates Buy Rating for Rhythm Pharmaceuticals (NASDAQ:RYTM)

HC Wainwright reaffirmed their buy rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTMFree Report) in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a $80.00 target price on the stock, up from their previous target price of $70.00.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC boosted their target price on shares of Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Bank of America upgraded shares of Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday. Wells Fargo & Company raised their target price on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an “overweight” rating in a research note on Monday. Canaccord Genuity Group lifted their price target on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Buy” and an average price target of $74.92.

Read Our Latest Analysis on Rhythm Pharmaceuticals

Rhythm Pharmaceuticals Stock Up 5.0 %

Shares of RYTM stock opened at $57.73 on Tuesday. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -13.33 and a beta of 2.32. Rhythm Pharmaceuticals has a 52-week low of $35.17 and a 52-week high of $68.58. The company’s 50 day moving average is $54.57 and its 200 day moving average is $55.15.

Rhythm Pharmaceuticals (NASDAQ:RYTMGet Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). The company had revenue of $41.83 million during the quarter, compared to analysts’ expectations of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Analysts anticipate that Rhythm Pharmaceuticals will post -4.32 EPS for the current fiscal year.

Insider Activity

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the sale, the executive vice president now directly owns 40,370 shares of the company’s stock, valued at approximately $2,078,247.60. This trade represents a 65.01 % decrease in their position. 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 635 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the completion of the transaction, the chief accounting officer now directly owns 2,070 shares of the company’s stock, valued at approximately $118,445.40. This trade represents a 23.48 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,131 shares of company stock valued at $5,781,098. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. boosted its position in Rhythm Pharmaceuticals by 1.9% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock worth $126,624,000 after purchasing an additional 45,648 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Rhythm Pharmaceuticals by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock valued at $65,824,000 after purchasing an additional 3,499 shares during the period. Janus Henderson Group PLC boosted its holdings in Rhythm Pharmaceuticals by 103.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock worth $68,309,000 after buying an additional 621,432 shares in the last quarter. Marshall Wace LLP grew its position in Rhythm Pharmaceuticals by 70.4% during the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock valued at $38,783,000 after buying an additional 286,188 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Rhythm Pharmaceuticals by 24.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 685,152 shares of the company’s stock valued at $38,355,000 after buying an additional 134,622 shares in the last quarter.

Rhythm Pharmaceuticals Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Rhythm Pharmaceuticals (NASDAQ:RYTM)

Receive News & Ratings for Rhythm Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rhythm Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.