Rhythm Pharmaceuticals (NASDAQ:RYTM) Releases Earnings Results, Beats Estimates By $0.07 EPS

Rhythm Pharmaceuticals (NASDAQ:RYTM) issued its quarterly earnings results on Tuesday. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07, Briefing.com reports. The firm had revenue of $33.20 million for the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The company’s revenue for the quarter was up 47.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.76) EPS.

Rhythm Pharmaceuticals Trading Up 2.0 %

Shares of NASDAQ:RYTM traded up $1.25 during midday trading on Thursday, reaching $63.90. The company had a trading volume of 1,074,764 shares, compared to its average volume of 541,350. The company’s 50 day moving average price is $50.61 and its 200 day moving average price is $45.59. The stock has a market cap of $3.91 billion, a P/E ratio of -14.66 and a beta of 2.09. Rhythm Pharmaceuticals has a 52-week low of $26.55 and a 52-week high of $65.14.

Analyst Upgrades and Downgrades

RYTM has been the topic of a number of recent analyst reports. JMP Securities initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target on the stock. Canaccord Genuity Group boosted their price target on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America boosted their target price on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Needham & Company LLC boosted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, TD Cowen boosted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.30.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 49,006 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $45.15, for a total transaction of $2,212,620.90. Following the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at $609,525. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Pamela J. Cramer sold 49,006 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $45.15, for a total value of $2,212,620.90. Following the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $609,525. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jennifer L. Good sold 31,751 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $157,200. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,857 shares of company stock valued at $5,325,446. 5.60% of the stock is owned by insiders.

About Rhythm Pharmaceuticals

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.