Rhythm Pharmaceuticals (NASDAQ:RYTM) Upgraded to Buy at ValuEngine

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Rhythm Pharmaceuticals (NASDAQ:RYTM) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Wednesday, October 17th.

RYTM has been the subject of several other research reports. Needham & Company LLC boosted their price objective on Rhythm Pharmaceuticals from $36.00 to $42.00 and gave the company a “buy” rating in a report on Monday, June 25th. BidaskClub cut Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Morgan Stanley set a $38.00 price target on Rhythm Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, September 7th. Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a report on Friday, September 14th. They issued a “hold” rating and a $36.00 price target for the company. Finally, Zacks Investment Research cut Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $38.60.

Shares of RYTM stock traded down $1.99 on Wednesday, hitting $29.35. The company had a trading volume of 114,668 shares, compared to its average volume of 134,820. The stock has a market cap of $1.03 billion and a PE ratio of -10.37. Rhythm Pharmaceuticals has a twelve month low of $16.80 and a twelve month high of $37.23.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Friday, November 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.06). As a group, research analysts expect that Rhythm Pharmaceuticals will post -1.94 EPS for the current year.

In other Rhythm Pharmaceuticals news, insider Der Ploeg Leonardus H.T. Van sold 31,800 shares of the stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $29.80, for a total transaction of $947,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Keith Michael Gottesdiener sold 16,500 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $30.08, for a total value of $496,320.00. The disclosure for this sale can be found here. Insiders have sold 86,300 shares of company stock valued at $2,587,380 in the last three months. Insiders own 4.93% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC grew its position in shares of Rhythm Pharmaceuticals by 33.1% in the third quarter. Janus Henderson Group PLC now owns 3,050,838 shares of the company’s stock valued at $88,993,000 after purchasing an additional 759,053 shares in the last quarter. Baker BROS. Advisors LP grew its position in shares of Rhythm Pharmaceuticals by 32.2% in the second quarter. Baker BROS. Advisors LP now owns 2,708,200 shares of the company’s stock valued at $84,658,000 after purchasing an additional 659,180 shares in the last quarter. FMR LLC grew its position in shares of Rhythm Pharmaceuticals by 40.9% in the second quarter. FMR LLC now owns 1,825,634 shares of the company’s stock valued at $57,069,000 after purchasing an additional 529,834 shares in the last quarter. RA Capital Management LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the second quarter valued at approximately $48,195,000. Finally, BlackRock Inc. grew its position in shares of Rhythm Pharmaceuticals by 52.7% in the third quarter. BlackRock Inc. now owns 1,141,503 shares of the company’s stock valued at $33,297,000 after purchasing an additional 393,834 shares in the last quarter. Institutional investors and hedge funds own 87.08% of the company’s stock.

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.

Further Reading: Return on Investment (ROI)

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