Rhythm Pharmaceuticals Inc (RYTM) Expected to Announce Earnings of -$0.56 Per Share

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Equities research analysts forecast that Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) will post ($0.56) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for Rhythm Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.46) and the lowest estimate coming in at ($0.65). Rhythm Pharmaceuticals posted earnings per share of ($0.41) in the same quarter last year, which would suggest a negative year over year growth rate of 36.6%. The company is expected to announce its next quarterly earnings report on Monday, March 11th.

According to Zacks, analysts expect that Rhythm Pharmaceuticals will report full-year earnings of ($2.20) per share for the current year, with EPS estimates ranging from ($2.29) to ($2.10). For the next year, analysts anticipate that the firm will report earnings of ($2.56) per share, with EPS estimates ranging from ($3.66) to ($1.93). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Rhythm Pharmaceuticals.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Friday, November 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.06).

A number of brokerages have issued reports on RYTM. BidaskClub upgraded Rhythm Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday. Stifel Nicolaus restated a “hold” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, December 13th. ValuEngine upgraded Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, October 17th. Zacks Investment Research cut Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, November 15th. Finally, Needham & Company LLC set a $42.00 target price on Rhythm Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, December 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $38.25.

In other news, CEO Keith Michael Gottesdiener sold 16,500 shares of Rhythm Pharmaceuticals stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $30.08, for a total transaction of $496,320.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Der Ploeg Leonardus H.T. Van sold 38,000 shares of Rhythm Pharmaceuticals stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $30.09, for a total value of $1,143,420.00. The disclosure for this sale can be found here. 4.93% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in Rhythm Pharmaceuticals by 46.6% in the 3rd quarter. Legal & General Group Plc now owns 2,675 shares of the company’s stock valued at $78,000 after buying an additional 850 shares during the last quarter. American International Group Inc. raised its position in Rhythm Pharmaceuticals by 26.5% in the 3rd quarter. American International Group Inc. now owns 10,098 shares of the company’s stock valued at $295,000 after buying an additional 2,114 shares during the last quarter. Bank of America Corp DE raised its position in Rhythm Pharmaceuticals by 110.5% in the 2nd quarter. Bank of America Corp DE now owns 6,251 shares of the company’s stock valued at $195,000 after buying an additional 3,282 shares during the last quarter. Alliancebernstein L.P. raised its position in Rhythm Pharmaceuticals by 74.0% in the 3rd quarter. Alliancebernstein L.P. now owns 12,700 shares of the company’s stock valued at $370,000 after buying an additional 5,400 shares during the last quarter. Finally, Credit Suisse AG raised its position in Rhythm Pharmaceuticals by 81.3% in the 3rd quarter. Credit Suisse AG now owns 15,950 shares of the company’s stock valued at $466,000 after buying an additional 7,154 shares during the last quarter. Institutional investors and hedge funds own 90.42% of the company’s stock.

Shares of RYTM opened at $29.01 on Monday. Rhythm Pharmaceuticals has a 1 year low of $16.80 and a 1 year high of $37.23. The stock has a market cap of $998.94 million, a price-to-earnings ratio of -10.25 and a beta of 1.85.

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.

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