HC Wainwright Issues Positive Forecast for Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock Price

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its price objective raised by HC Wainwright from $64.00 to $69.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Bank of America boosted their price target on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. TD Cowen boosted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday. JMP Securities began coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They set an “outperform” rating and a $64.00 target price for the company. Needham & Company LLC upped their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity Group upped their price objective on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.30.

Rhythm Pharmaceuticals Trading Up 2.1 %

Shares of Rhythm Pharmaceuticals stock traded up $1.32 on Thursday, hitting $65.22. 391,136 shares of the company traded hands, compared to its average volume of 540,521. Rhythm Pharmaceuticals has a 52 week low of $26.55 and a 52 week high of $65.71. The business has a 50-day simple moving average of $50.61 and a 200 day simple moving average of $45.59.

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 firm had revenue of $33.20 million for the quarter, compared to analysts’ expectations of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 286.94%. The company’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.76) earnings per share. On average, equities analysts predict that Rhythm Pharmaceuticals will post -4.45 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Pamela J. Cramer sold 3,200 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $50.01, for a total transaction of $160,032.00. Following the transaction, the insider now owns 13,500 shares in the company, valued at $675,135. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Jennifer L. Good sold 31,751 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total value of $1,663,752.40. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $157,200. This represents a 0.00 % decrease in their position. 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 the stock in a transaction that occurred on Monday, August 26th. The stock was 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 in the company, valued at approximately $675,135. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,851 shares of company stock worth $3,112,825 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in shares of Rhythm Pharmaceuticals by 348.9% during the 2nd quarter. SG Americas Securities LLC now owns 33,727 shares of the company’s stock valued at $1,385,000 after buying an additional 26,214 shares in the last quarter. Castleark Management LLC acquired a new stake in shares of Rhythm Pharmaceuticals in the 1st quarter worth $2,769,000. Bayesian Capital Management LP acquired a new stake in shares of Rhythm Pharmaceuticals in the 1st quarter worth $665,000. Frazier Life Sciences Management L.P. increased its stake in shares of Rhythm Pharmaceuticals by 8.3% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock worth $97,366,000 after acquiring an additional 181,125 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Rhythm Pharmaceuticals by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company’s stock worth $143,169,000 after acquiring an additional 77,208 shares during the last quarter.

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.