Rhythm Pharmaceuticals (NASDAQ:RYTM) Price Target Raised to $137.00

Rhythm Pharmaceuticals (NASDAQ:RYTM) had its target price lifted by Royal Bank Of Canada from $136.00 to $137.00 in a research note published on Wednesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

RYTM has been the subject of a number of other reports. Citizens Jmp dropped their target price on shares of Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating for the company in a report on Tuesday, March 17th. HC Wainwright dropped their target price on shares of Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Morgan Stanley dropped their target price on shares of Rhythm Pharmaceuticals from $150.00 to $136.00 and set an “overweight” rating for the company in a report on Tuesday, March 17th. Needham & Company LLC dropped their target price on shares of Rhythm Pharmaceuticals from $139.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Finally, Guggenheim increased their target price on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the company a “buy” rating in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.81.

Rhythm Pharmaceuticals Stock Down 2.1%

Shares of NASDAQ:RYTM opened at $94.17 on Wednesday. The company has a market cap of $6.45 billion, a P/E ratio of -30.09 and a beta of 1.94. Rhythm Pharmaceuticals has a 52 week low of $55.31 and a 52 week high of $122.20. The company has a 50-day moving average price of $87.93 and a 200 day moving average price of $99.24.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The firm had revenue of $60.11 million during the quarter, compared to the consensus estimate of $55.78 million. During the same quarter last year, the firm earned ($0.81) earnings per share. The firm’s revenue was up 83.8% compared to the same quarter last year. Analysts expect that Rhythm Pharmaceuticals will post -3.04 EPS for the current year.

Insider Buying and Selling

In other news, CAO Christopher Paul German sold 5,614 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $89.56, for a total transaction of $502,789.84. Following the completion of the transaction, the chief accounting officer directly owned 160 shares of the company’s stock, valued at $14,329.60. This trade represents a 97.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Hunter C. Smith sold 4,385 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $101.26, for a total transaction of $444,025.10. Following the transaction, the chief financial officer directly owned 110,512 shares of the company’s stock, valued at approximately $11,190,445.12. This trade represents a 3.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 20,639 shares of company stock valued at $2,017,217. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in Rhythm Pharmaceuticals by 303.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares during the period. Smartleaf Asset Management LLC grew its stake in Rhythm Pharmaceuticals by 97.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after acquiring an additional 141 shares during the period. Farther Finance Advisors LLC grew its stake in Rhythm Pharmaceuticals by 1,110.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock worth $35,000 after acquiring an additional 322 shares during the period. Optiver Holding B.V. grew its stake in Rhythm Pharmaceuticals by 65.2% in the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after acquiring an additional 144 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in Rhythm Pharmaceuticals by 73.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 145 shares during the period.

About Rhythm Pharmaceuticals

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.