Zacks: Brokerages Anticipate Rhythm Pharmaceuticals Inc (RYTM) Will Announce Earnings of -$0.41 Per Share
Wall Street brokerages expect Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) to report earnings per share of ($0.41) for the current quarter, according to Zacks. Zero analysts have made estimates for Rhythm Pharmaceuticals’ earnings. The highest EPS estimate is ($0.38) and the lowest is ($0.45). Rhythm Pharmaceuticals posted earnings of ($1.78) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 77%. The business is expected to announce its next earnings report on Tuesday, November 13th.
On average, analysts expect that Rhythm Pharmaceuticals will report full year earnings of ($1.94) per share for the current fiscal year, with EPS estimates ranging from ($2.05) to ($1.86). For the next year, analysts expect that the firm will report earnings of ($2.38) per share, with EPS estimates ranging from ($3.51) to ($1.75). Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Rhythm Pharmaceuticals.
Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Wednesday, August 8th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.04).
Hedge funds and other institutional investors have recently modified their holdings of the business. Federated Investors Inc. PA lifted its holdings in Rhythm Pharmaceuticals by 66.7% in the second quarter. Federated Investors Inc. PA now owns 250,000 shares of the company’s stock worth $7,815,000 after acquiring an additional 100,000 shares during the last quarter. PointState Capital LP bought a new position in Rhythm Pharmaceuticals in the second quarter worth about $2,657,000. Laurion Capital Management LP bought a new position in Rhythm Pharmaceuticals in the second quarter worth about $2,632,000. Alps Advisors Inc. lifted its holdings in Rhythm Pharmaceuticals by 9.2% in the second quarter. Alps Advisors Inc. now owns 39,952 shares of the company’s stock worth $1,249,000 after acquiring an additional 3,359 shares during the last quarter. Finally, Baker BROS. Advisors LP lifted its holdings in Rhythm Pharmaceuticals by 32.2% in the second quarter. Baker BROS. Advisors LP now owns 2,708,200 shares of the company’s stock worth $84,658,000 after acquiring an additional 659,180 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rhythm Pharmaceuticals stock traded down $2.25 during trading hours on Tuesday, hitting $29.75. 7,388 shares of the company’s stock traded hands, compared to its average volume of 200,468. The company has a market capitalization of $1.10 billion and a PE ratio of -10.62. Rhythm Pharmaceuticals has a twelve month low of $16.80 and a twelve month high of $37.23.
About Rhythm Pharmaceuticals
Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of peptide therapeutics for the treatment of rare genetic disorders of obesity in the United States. Its peptide candidates include Setmelanotide, a melanocortin-4 receptor agonist, which is in Phase III clinical trial to treat POMC and leptin receptor deficiency obesity; and Phase II clinical trial for Bardet-Biedl and Alström syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.
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