Rhythm Pharmaceuticals’ (RYTM) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a report issued on Monday morning,Benzinga reports. HC Wainwright currently has a $69.00 target price on the stock.

A number of other equities research analysts have also weighed in on RYTM. JMP Securities started coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price objective on the stock. Guggenheim assumed coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a “buy” rating and a $70.00 price target on the stock. Bank of America increased their price objective on 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 stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Needham & Company LLC increased their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.30.

Rhythm Pharmaceuticals Trading Up 0.5 %

Shares of RYTM stock opened at $62.25 on Monday. The company has a market capitalization of $3.83 billion, a P/E ratio of -14.31 and a beta of 2.09. The business’s 50 day moving average is $53.73 and its two-hundred day moving average is $47.59. Rhythm Pharmaceuticals has a twelve month low of $31.52 and a twelve month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced 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. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $33.20 million for the quarter, compared to analysts’ expectations of $32.52 million. During the same period in the previous year, the company posted ($0.76) EPS. Rhythm Pharmaceuticals’s revenue was up 47.6% compared to the same quarter last year. As a group, equities analysts predict that Rhythm Pharmaceuticals will post -4.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, Director Jennifer L. Good sold 31,751 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total value of $1,663,752.40. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $157,200. The trade was a 91.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jennifer Kayden Lee sold 66,861 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $66.33, for a total value of $4,434,890.13. Following the sale, the executive vice president now owns 972 shares of the company’s stock, valued at approximately $64,472.76. This represents a 98.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,181 shares of company stock valued at $8,359,750 over the last quarter. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Castleark Management LLC raised its position in shares of Rhythm Pharmaceuticals by 1.3% in the third quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock valued at $1,009,000 after buying an additional 250 shares during the last quarter. CWM LLC increased its stake in 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 purchasing an additional 253 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 buying an additional 391 shares during the period. American International Group Inc. boosted its stake in Rhythm Pharmaceuticals by 3.1% in the 1st quarter. American International Group Inc. now owns 26,318 shares of the company’s stock worth $1,140,000 after buying an additional 781 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in Rhythm Pharmaceuticals in the 2nd quarter valued at about $51,000.

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.