Needham & Company LLC Forecasts RYTM FY2029 Earnings

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) – Equities researchers at Needham & Company LLC issued their FY2029 earnings per share (EPS) estimates for shares of Rhythm Pharmaceuticals in a research report issued to clients and investors on Thursday, February 6th. Needham & Company LLC analyst J. Stringer forecasts that the company will post earnings of $6.55 per share for the year. Needham & Company LLC has a “Buy” rating and a $64.00 price objective on the stock. The consensus estimate for Rhythm Pharmaceuticals’ current full-year earnings is ($4.33) per share.

A number of other equities research analysts also recently issued reports on RYTM. Oppenheimer assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. The Goldman Sachs Group boosted their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. TD Cowen raised their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.09.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ RYTM opened at $57.58 on Monday. The stock has a market capitalization of $3.54 billion, a P/E ratio of -13.30 and a beta of 2.14. The stock’s fifty day moving average is $57.22 and its 200 day moving average is $53.42. Rhythm Pharmaceuticals has a 52 week low of $35.17 and a 52 week high of $68.58.

Insiders Place Their Bets

In related news, CFO Hunter C. Smith sold 1,296 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total value of $74,532.96. Following the completion of the sale, the chief financial officer now directly owns 106,295 shares in the company, valued at $6,113,025.45. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Shulman sold 794 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total value of $45,662.94. Following the transaction, the insider now directly owns 6 shares of the company’s stock, valued at approximately $345.06. This represents a 99.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,963 shares of company stock valued at $883,060 in the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth approximately $521,000. Sei Investments Co. raised its holdings in Rhythm Pharmaceuticals by 15.5% during the 4th quarter. Sei Investments Co. now owns 33,522 shares of the company’s stock worth $1,877,000 after purchasing an additional 4,501 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $1,890,000. Teacher Retirement System of Texas boosted its stake in shares of Rhythm Pharmaceuticals by 18.5% in the 4th quarter. Teacher Retirement System of Texas now owns 13,586 shares of the company’s stock valued at $761,000 after purchasing an additional 2,117 shares during the last quarter. Finally, Xponance Inc. acquired a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth $233,000.

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.