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

HC Wainwright reaffirmed their buy rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a report issued on Tuesday morning,Benzinga reports. HC Wainwright currently has a $80.00 target price on the stock, up from their previous target price of $70.00.

A number of other equities analysts have also recently issued reports on the company. Oppenheimer began coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They set an “outperform” rating and a $76.00 price target on the stock. Wells Fargo & Company increased their target price on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an “overweight” rating in a research note on Monday. Morgan Stanley reaffirmed an “overweight” rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective on the stock. Finally, Canaccord Genuity Group raised their target price on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Buy” and a consensus price target of $74.92.

Rhythm Pharmaceuticals Stock Down 4.0 %

RYTM opened at $57.83 on Tuesday. The stock has a market cap of $3.66 billion, a PE ratio of -13.36 and a beta of 2.32. Rhythm Pharmaceuticals has a twelve month low of $35.17 and a twelve month high of $68.58. The company has a fifty day moving average of $54.58 and a 200-day moving average of $55.29.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). The business had revenue of $41.83 million for the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. Sell-side analysts anticipate that Rhythm Pharmaceuticals will post -4.32 EPS for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In related news, CAO Christopher Paul German sold 635 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the transaction, the chief accounting officer now directly owns 2,070 shares of the company’s stock, valued at $118,445.40. This trade represents a 23.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Hunter C. Smith sold 1,678 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $99,723.54. Following the completion of the sale, the chief financial officer now directly owns 101,186 shares of the company’s stock, valued at $6,013,483.98. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,641 shares of company stock valued at $8,112,177 over the last ninety days. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its stake in Rhythm Pharmaceuticals by 3.6% in the first quarter. Rhumbline Advisers now owns 85,719 shares of the company’s stock valued at $4,541,000 after acquiring an additional 2,988 shares during the last quarter. GAMMA Investing LLC lifted its stake in Rhythm Pharmaceuticals by 7,305.5% in the first quarter. GAMMA Investing LLC now owns 14,885 shares of the company’s stock valued at $788,000 after purchasing an additional 14,684 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Rhythm Pharmaceuticals during the fourth quarter valued at $4,259,000. GF Fund Management CO. LTD. purchased a new stake in Rhythm Pharmaceuticals in the fourth quarter worth $72,000. Finally, Voloridge Investment Management LLC increased its position in Rhythm Pharmaceuticals by 7.7% in the fourth quarter. Voloridge Investment Management LLC now owns 380,537 shares of the company’s stock worth $21,302,000 after buying an additional 27,214 shares during 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.