Rhythm Pharmaceuticals (NASDAQ:RYTM) Given “Market Outperform” Rating at JMP Securities

Rhythm Pharmaceuticals (NASDAQ:RYTM)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a research note issued on Monday,Benzinga reports. They presently have a $75.00 target price on the stock. JMP Securities’ price target suggests a potential upside of 33.64% from the stock’s current price.

Several other research firms also recently commented on RYTM. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Friday. They issued an “outperform” rating and a $76.00 target price for the company. Needham & Company LLC increased their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Guggenheim started coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They issued a “buy” rating and a $70.00 price target for the company. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. Finally, Bank of America boosted their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.90.

Rhythm Pharmaceuticals Stock Up 1.2 %

Shares of Rhythm Pharmaceuticals stock opened at $56.12 on Monday. Rhythm Pharmaceuticals has a 12 month low of $35.17 and a 12 month high of $68.58. The business has a fifty day simple moving average of $56.39 and a 200-day simple moving average of $50.13. The stock has a market cap of $3.45 billion, a PE ratio of -12.96 and a beta of 2.14.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $33.20 million for the quarter, compared to the consensus estimate of $32.52 million. During the same period in the prior year, the business posted ($0.76) earnings per share. Rhythm Pharmaceuticals’s revenue for the quarter was up 47.6% compared to the same quarter last year. Analysts expect that Rhythm Pharmaceuticals will post -4.34 EPS for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 4,688 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $65.00, for a total transaction of $304,720.00. Following the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $877,500. The trade was a 25.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Shulman sold 13,281 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $66.44, for a total value of $882,389.64. The disclosure for this sale can be found here. Insiders sold a total of 84,830 shares of company stock worth $5,622,000 in the last ninety days. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new stake in shares of Rhythm Pharmaceuticals in the third quarter valued at $63,000. Quest Partners LLC grew its holdings in 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 acquiring an additional 1,391 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake 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. Creative Planning bought a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at about $450,000. Finally, Principal Financial Group Inc. increased its stake in 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 purchasing an additional 2,352 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.