Rhythm Pharmaceuticals (RYTM) – Research Analysts’ Weekly Ratings Changes

Rhythm Pharmaceuticals (NASDAQ: RYTM) recently received a number of ratings updates from brokerages and research firms:

• 11/19/2024 – Rhythm Pharmaceuticals had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $80.00 price target on the stock.
• 11/7/2024 – Rhythm Pharmaceuticals had its price target raised by analysts at HC Wainwright from $64.00 to $69.00. They now have a “buy” rating on the stock.
• 11/6/2024 – Rhythm Pharmaceuticals had its price target raised by analysts at TD Cowen from $55.00 to $65.00. They now have a “buy” rating on the stock.
• 11/6/2024 – Rhythm Pharmaceuticals had its price target raised by analysts at Canaccord Genuity Group Inc. from $77.00 to $80.00. They now have a “buy” rating on the stock.
• 11/6/2024 – Rhythm Pharmaceuticals had its price target raised by analysts at Needham & Company LLC from $55.00 to $64.00. They now have a “buy” rating on the stock.
• 10/30/2024 – Rhythm Pharmaceuticals had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $55.00 price target on the stock.
• 10/25/2024 – Rhythm Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $64.00 price target on the stock.
• 10/21/2024 – Rhythm Pharmaceuticals is now covered by analysts at Guggenheim. They set a “buy” rating and a $70.00 price target on the stock.
• 10/14/2024 – Rhythm Pharmaceuticals had its price target raised by analysts at Bank of America Co. from $48.00 to $52.00. They now have a “neutral” rating on the stock.
• 10/7/2024 – Rhythm Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $64.00 price target on the stock.

Rhythm Pharmaceuticals Stock Up 2.5 %

Shares of NASDAQ:RYTM traded up $1.47 during trading on Tuesday, reaching $59.97. The stock had a trading volume of 676,143 shares, compared to its average volume of 549,711. The stock has a fifty day simple moving average of $52.74 and a two-hundred day simple moving average of $46.88. Rhythm Pharmaceuticals, Inc. has a 52 week low of $31.52 and a 52 week high of $68.58. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of -13.85 and a beta of 2.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same period in the prior year, the business earned ($0.76) earnings per share. Rhythm Pharmaceuticals’s revenue for the quarter was up 47.6% compared to the same quarter last year. On average, analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.36 EPS for the current year.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 3,200 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $50.01, for a total transaction of $160,032.00. Following the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $675,135. This represents a 19.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Shulman sold 13,281 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $66.44, for a total transaction of $882,389.64. The disclosure for this sale can be found here. In the last three months, insiders sold 145,681 shares of company stock valued at $8,734,825. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in RYTM. CWM LLC raised its position in shares of Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after acquiring an additional 253 shares during the period. ORG Partners LLC acquired a new stake in Rhythm Pharmaceuticals during the 2nd quarter worth approximately $51,000. ORG Wealth Partners LLC bought a new stake in Rhythm Pharmaceuticals in the 3rd quarter valued at $63,000. Quest Partners LLC increased its holdings in Rhythm Pharmaceuticals by 513.3% during the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after purchasing an additional 391 shares during the period.

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.