Franklin Resources Inc. Has $13.03 Million Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Franklin Resources Inc. raised its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 11.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,416 shares of the company’s stock after buying an additional 26,739 shares during the quarter. Franklin Resources Inc. owned 0.42% of Rhythm Pharmaceuticals worth $13,033,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after acquiring an additional 253 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals during the 3rd quarter worth approximately $63,000. Quest Partners LLC grew its position in shares of Rhythm Pharmaceuticals by 513.3% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rhythm Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after purchasing an additional 391 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Rhythm Pharmaceuticals by 32.8% in the second quarter. Principal Financial Group Inc. now owns 9,532 shares of the company’s stock valued at $391,000 after buying an additional 2,352 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Oppenheimer began coverage on Rhythm Pharmaceuticals in a research report on Friday. They set an “outperform” rating and a $76.00 price target on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $80.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Guggenheim initiated 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. 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 price objective on the stock. Finally, Bank of America boosted their target price on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.80.

Insider Activity

In other news, insider Pamela J. Cramer sold 4,688 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 owns 13,500 shares of the company’s stock, valued at $877,500. This represents a 25.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Joseph Shulman sold 13,281 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $66.44, for a total transaction of $882,389.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,830 shares of company stock worth $5,622,000. Insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Trading Up 1.2 %

Shares of NASDAQ RYTM opened at $56.12 on Friday. The stock has a 50-day moving average price of $56.39 and a two-hundred day moving average price of $49.98. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -12.96 and a beta of 2.14.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) 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 the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm’s revenue was up 47.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.76) EPS. On average, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.34 earnings per share for the current year.

Rhythm Pharmaceuticals 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.