Rhythm Pharmaceuticals (NASDAQ:RYTM) Issues Earnings Results

Rhythm Pharmaceuticals (NASDAQ:RYTM) posted its quarterly earnings data on Wednesday. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.03), Zacks reports. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%.

Rhythm Pharmaceuticals Stock Performance

RYTM traded up $2.07 during trading on Wednesday, hitting $53.10. 234,790 shares of the stock were exchanged, compared to its average volume of 483,094. The firm has a 50 day simple moving average of $56.99 and a 200 day simple moving average of $54.22. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of -12.24 and a beta of 2.14. Rhythm Pharmaceuticals has a 1 year low of $35.17 and a 1 year high of $68.58.

Analyst Ratings Changes

Several research analysts have issued reports on RYTM shares. TD Cowen lifted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. JMP Securities reaffirmed a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Needham & Company LLC reissued a “buy” rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Wednesday, February 19th. Oppenheimer started coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 target price for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $68.09.

Insider Buying and Selling

In other news, CAO Christopher Paul German sold 635 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the transaction, the chief accounting officer now directly owns 2,070 shares of the company’s stock, valued at approximately $118,445.40. This trade represents a 23.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Joseph Shulman sold 1,281 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $76,129.83. Following the transaction, the insider now directly owns 2,657 shares in the company, valued at approximately $157,905.51. The trade was a 32.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,787 shares of company stock worth $1,901,443. 5.60% of the stock is owned by company insiders.

Rhythm Pharmaceuticals Company Profile

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.