Rhythm Pharmaceuticals (NASDAQ:RYTM) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a research report report published on Monday,Benzinga reports. They currently have a $70.00 price target on the stock.

A number of other research firms have also weighed in on RYTM. Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price for the company. JMP Securities reissued a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a “buy” rating and a $78.00 target price on the stock. Needham & Company LLC upped their price target on shares of Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Finally, Canaccord Genuity Group raised 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. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.46.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM opened at $53.72 on Monday. The stock has a market capitalization of $3.40 billion, a P/E ratio of -12.41 and a beta of 2.30. Rhythm Pharmaceuticals has a one year low of $35.17 and a one year high of $68.58. The firm’s 50 day simple moving average is $55.28 and its two-hundred day simple moving average is $54.99.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The business had revenue of $41.83 million for the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. As a group, equities analysts expect that Rhythm Pharmaceuticals will post -4.32 earnings per share for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 635 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of the transaction, the chief accounting officer now owns 2,070 shares of the company’s stock, valued at approximately $118,445.40. This trade represents a 23.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Hunter C. Smith sold 1,678 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $99,723.54. Following the sale, the chief financial officer now owns 101,186 shares in the company, valued at approximately $6,013,483.98. This trade represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,131 shares of company stock worth $5,781,098 over the last 90 days. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. FMR LLC grew its holdings in Rhythm Pharmaceuticals by 79.7% in the third quarter. FMR LLC now owns 50,295 shares of the company’s stock worth $2,635,000 after purchasing an additional 22,306 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Rhythm Pharmaceuticals by 307.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock worth $756,000 after buying an additional 10,882 shares during the last quarter. Principal Financial Group Inc. increased its position in Rhythm Pharmaceuticals by 241.9% during the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock valued at $1,707,000 after buying an additional 23,054 shares in the last quarter. Intech Investment Management LLC purchased a new position in Rhythm Pharmaceuticals during the third quarter valued at $649,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Rhythm Pharmaceuticals by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 433,866 shares of the company’s stock worth $22,730,000 after acquiring an additional 5,908 shares in the last quarter.

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.