Nicholas Investment Partners LP Buys Shares of 34,710 Rhythm Pharmaceuticals, Inc. $RYTM

Nicholas Investment Partners LP bought a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 34,710 shares of the company’s stock, valued at approximately $3,715,000.

Other large investors have also recently bought and sold shares of the company. M&T Bank Corp acquired a new position in Rhythm Pharmaceuticals during the 4th quarter valued at about $9,202,000. Jennison Associates LLC increased its stake in Rhythm Pharmaceuticals by 123.2% during the 4th quarter. Jennison Associates LLC now owns 918,567 shares of the company’s stock valued at $98,323,000 after buying an additional 507,017 shares during the period. Hillsdale Investment Management Inc. acquired a new position in Rhythm Pharmaceuticals during the 3rd quarter valued at about $4,302,000. Capital Research Global Investors acquired a new position in Rhythm Pharmaceuticals during the 3rd quarter valued at about $60,417,000. Finally, Aquatic Capital Management LLC increased its stake in Rhythm Pharmaceuticals by 974.9% during the 3rd quarter. Aquatic Capital Management LLC now owns 42,490 shares of the company’s stock valued at $4,291,000 after buying an additional 38,537 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have commented on RYTM. Royal Bank Of Canada raised their target price on shares of Rhythm Pharmaceuticals from $136.00 to $137.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 21st. Needham & Company LLC reduced their price objective on shares of Rhythm Pharmaceuticals from $139.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Citizens Jmp reduced their price objective on shares of Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating for the company in a research report on Tuesday, March 17th. Finally, Jefferies Financial Group restated a “buy” rating and set a $125.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.81.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM opened at $88.38 on Friday. The company has a 50-day moving average of $87.96 and a two-hundred day moving average of $96.33. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of -28.24 and a beta of 1.91. Rhythm Pharmaceuticals, Inc. has a one year low of $60.70 and a one year high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.03. The business had revenue of $60.11 million for the quarter, compared to the consensus estimate of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The firm’s quarterly revenue was up 83.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.81) earnings per share. Analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -3.07 earnings per share for the current year.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.