Needham & Company LLC Forecasts RYTM FY2027 Earnings

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) – Needham & Company LLC upped their FY2027 earnings estimates for Rhythm Pharmaceuticals in a note issued to investors on Monday, April 14th. Needham & Company LLC analyst J. Stringer now anticipates that the company will post earnings of $1.43 per share for the year, up from their prior forecast of $1.42. Needham & Company LLC has a “Buy” rating and a $66.00 price target on the stock. The consensus estimate for Rhythm Pharmaceuticals’ current full-year earnings is ($4.32) per share.

Several other brokerages also recently issued reports on RYTM. Jefferies Financial Group started coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target for the company. Bank of America upgraded shares of Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Monday, April 7th. JMP Securities restated a “market outperform” rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They set a “buy” rating and a $78.00 target price on the stock. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $74.92.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ RYTM opened at $61.74 on Wednesday. Rhythm Pharmaceuticals has a 52-week low of $35.17 and a 52-week high of $68.58. The business has a fifty day moving average of $54.64 and a two-hundred day moving average of $55.52. The stock has a market cap of $3.90 billion, a PE ratio of -14.26 and a beta of 2.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 635 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $36,334.70. Following the transaction, the chief accounting officer now owns 2,070 shares of the company’s stock, valued at approximately $118,445.40. This represents a 23.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David P. Meeker sold 4,278 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $254,241.54. Following the transaction, the chief executive officer now owns 189,927 shares of the company’s stock, valued at $11,287,361.61. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,641 shares of company stock worth $8,112,177 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in shares of Rhythm Pharmaceuticals in the 1st quarter valued at $1,176,000. SG Americas Securities LLC bought a new stake in shares of Rhythm Pharmaceuticals in the first quarter worth about $1,042,000. Harbor Capital Advisors Inc. raised its position in shares of Rhythm Pharmaceuticals by 155.5% during the first quarter. Harbor Capital Advisors Inc. now owns 77,297 shares of the company’s stock worth $4,094,000 after purchasing an additional 47,045 shares during the period. Rhumbline Advisers lifted its holdings in shares of Rhythm Pharmaceuticals by 3.6% during the 1st quarter. Rhumbline Advisers now owns 85,719 shares of the company’s stock valued at $4,541,000 after purchasing an additional 2,988 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Rhythm Pharmaceuticals by 7,305.5% during the 1st quarter. GAMMA Investing LLC now owns 14,885 shares of the company’s stock worth $788,000 after purchasing an additional 14,684 shares in the last quarter.

Rhythm Pharmaceuticals Company Profile

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.