Rhythm Pharmaceuticals (NASDAQ:RYTM) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Rhythm Pharmaceuticals (NASDAQ:RYTM) issued its earnings results on Tuesday. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07, Briefing.com reports. The business had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The company’s revenue for the quarter was up 47.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.76) EPS.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM opened at $63.90 on Friday. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -14.66 and a beta of 2.09. Rhythm Pharmaceuticals has a 12 month low of $26.55 and a 12 month high of $65.14. The company’s fifty day moving average price is $50.61 and its two-hundred day moving average price is $45.59.

Insider Activity

In related news, insider Pamela J. Cramer sold 3,200 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $50.01, for a total value of $160,032.00. Following the completion of the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at $675,135. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Pamela J. Cramer sold 4,099 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $50.03, for a total value of $205,072.97. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $675,405. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pamela J. Cramer sold 3,200 shares of Rhythm Pharmaceuticals 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 completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at $675,135. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,851 shares of company stock worth $3,112,825. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RYTM shares. HC Wainwright raised their target price on shares of Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities initiated coverage on Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price objective on the stock. TD Cowen upped their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday. Guggenheim started coverage on Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 target price on the stock. Finally, Bank of America upped their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $62.30.

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.