BNP Paribas Financial Markets Purchases 70,824 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

BNP Paribas Financial Markets raised its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 491.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,249 shares of the company’s stock after acquiring an additional 70,824 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.14% of Rhythm Pharmaceuticals worth $4,772,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RYTM. SRS Capital Advisors Inc. grew its holdings in Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after buying an additional 400 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $37,000. R Squared Ltd purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $44,000. Finally, Swiss National Bank boosted its stake in Rhythm Pharmaceuticals by 1.0% during the fourth quarter. Swiss National Bank now owns 90,200 shares of the company’s stock valued at $5,049,000 after buying an additional 900 shares during the last quarter.

Rhythm Pharmaceuticals Stock Down 3.7%

Rhythm Pharmaceuticals stock opened at $56.79 on Wednesday. The firm has a market cap of $3.61 billion, a P/E ratio of -13.12 and a beta of 2.36. The business has a fifty day moving average of $57.07 and a two-hundred day moving average of $57.17. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $37.72 million for the quarter, compared to analysts’ expectations of $40.43 million. During the same quarter last year, the company earned ($2.35) earnings per share. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. Equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insider Transactions at Rhythm Pharmaceuticals

In other news, CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the sale, the chief accounting officer now owns 2,070 shares in the company, valued at approximately $118,445.40. The trade was a 23.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Yann Mazabraud sold 75,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the transaction, the executive vice president now owns 40,370 shares in the company, valued at approximately $2,078,247.60. This trade represents a 65.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,639 shares of company stock valued at $8,023,381 in the last 90 days. Insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Needham & Company LLC raised their target price on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Canaccord Genuity Group lifted their price target on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, April 8th. Morgan Stanley reiterated an “overweight” rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Finally, Wells Fargo & Company raised their price target on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an “overweight” rating in a research report on Monday, April 7th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $75.38.

Rhythm Pharmaceuticals 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.