Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock Has Consensus Target Price of $142.50

Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) have received a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $142.50.

Several equities research analysts have recently issued reports on RYTM shares. Leerink Partners began coverage on Rhythm Pharmaceuticals in a research note on Monday, September 14th. They issued an “outperform” rating and a $133.00 price objective for the company. Canaccord Genuity Group set a $154.00 target price on Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Rhythm Pharmaceuticals in a report on Friday, August 28th. They set a “hold” rating and a $120.00 price target on the stock. HC Wainwright raised their price target on Rhythm Pharmaceuticals from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Finally, Royal Bank Of Canada raised their price target on Rhythm Pharmaceuticals from $155.00 to $159.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, EVP Jennifer Lee sold 75,834 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $117.38, for a total value of $8,901,394.92. Following the completion of the sale, the executive vice president owned 54,233 shares in the company, valued at approximately $6,365,869.54. This trade represents a 58.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hunter C. Smith sold 62,774 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $105.46, for a total transaction of $6,620,146.04. Following the transaction, the chief financial officer directly owned 114,024 shares of the company’s stock, valued at approximately $12,024,971.04. This represents a 35.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 258,450 shares of company stock valued at $28,796,497. Insiders own 5.90% of the company’s stock.

Institutional Trading of Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RYTM. GAMMA Investing LLC lifted its stake in Rhythm Pharmaceuticals by 36.3% in the second quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Rhythm Pharmaceuticals by 9.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the company’s stock valued at $155,000 after buying an additional 136 shares during the period. ProShare Advisors LLC boosted its position in shares of Rhythm Pharmaceuticals by 1.9% during the third quarter. ProShare Advisors LLC now owns 9,653 shares of the company’s stock valued at $919,000 after buying an additional 177 shares during the period. Cim Investment Management Inc. grew its stake in shares of Rhythm Pharmaceuticals by 7.2% during the second quarter. Cim Investment Management Inc. now owns 3,209 shares of the company’s stock valued at $356,000 after buying an additional 216 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in shares of Rhythm Pharmaceuticals by 7.9% during the third quarter. Inspire Investing LLC now owns 3,688 shares of the company’s stock valued at $351,000 after buying an additional 271 shares during the last quarter.

Rhythm Pharmaceuticals Trading Down 0.5%

Shares of NASDAQ RYTM opened at $92.57 on Friday. The firm’s 50-day moving average price is $97.18 and its 200-day moving average price is $97.36. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of -29.77 and a beta of 2.01. Rhythm Pharmaceuticals has a 12-month low of $74.50 and a 12-month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.08. The company had revenue of $71.25 million during the quarter, compared to analyst estimates of $67.66 million. Rhythm Pharmaceuticals had a negative return on equity of 159.87% and a negative net margin of 85.59%. The firm’s revenue was up 46.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.75) earnings per share. On average, equities analysts predict that Rhythm Pharmaceuticals will post -2.77 EPS for the current fiscal year.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare genetic diseases of obesity and related metabolic disorders. The company’s work is based on the melanocortin-4 receptor (MC4R) pathway, which plays an important role in regulating hunger and energy balance.

Rhythm’s principal product is IMCIVREE (setmelanotide), a targeted therapy designed to restore impaired MC4R pathway signaling. In the United States, IMCIVREE is approved for chronic weight management in adults and children at least 6 years old with obesity caused by certain genetic deficiencies, including POMC, PCSK1, or LEPR deficiency, as well as Bardet-Biedl syndrome.