Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock Price Up 2.4% – What’s Next?

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) shot up 2.4% on Friday . The stock traded as high as $54.82 and last traded at $54.75. 112,627 shares were traded during trading, a decline of 78% from the average session volume of 510,100 shares. The stock had previously closed at $53.49.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RYTM. Needham & Company LLC lifted their price objective on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Morgan Stanley reissued an “overweight” rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. The Goldman Sachs Group upped their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Canaccord Genuity Group raised their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.46.

Rhythm Pharmaceuticals Stock Performance

The company has a market cap of $3.46 billion, a P/E ratio of -12.66 and a beta of 2.30. The firm’s fifty day moving average is $55.25 and its two-hundred day moving average is $55.00.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The business had revenue of $41.83 million during the quarter, compared to analysts’ expectations of $38.48 million. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the sale, the chief accounting officer now owns 2,070 shares in the company, valued at $118,445.40. The trade was a 23.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Yann Mazabraud sold 75,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00. Following the transaction, the executive vice president now owns 40,370 shares of the company’s stock, valued at approximately $2,078,247.60. The trade was a 65.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,131 shares of company stock worth $5,781,098 in the last three months. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Castleark Management LLC lifted its position in Rhythm Pharmaceuticals by 1.3% during the third quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock valued at $1,009,000 after purchasing an additional 250 shares during the last quarter. Two Sigma Advisers LP increased its stake in Rhythm Pharmaceuticals by 2.3% during the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock worth $733,000 after acquiring an additional 300 shares during the last quarter. SRS Capital Advisors Inc. raised its position in Rhythm Pharmaceuticals by 740.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after purchasing an additional 400 shares during the period. Raleigh Capital Management Inc. purchased a new stake in Rhythm Pharmaceuticals during the fourth quarter valued at approximately $28,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Rhythm Pharmaceuticals by 2.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,156 shares of the company’s stock valued at $1,857,000 after purchasing an additional 654 shares during the last quarter.

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.