Rhythm Pharmaceuticals (NASDAQ:RYTM) Upgraded at BidaskClub

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BidaskClub upgraded shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a strong sell rating to a sell rating in a report issued on Wednesday, BidAskClub reports.

RYTM has been the subject of a number of other reports. LADENBURG THALM/SH SH reaffirmed a buy rating and set a $43.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, September 9th. Canaccord Genuity assumed coverage on Rhythm Pharmaceuticals in a research report on Monday, July 8th. They set a buy rating and a $35.00 price target for the company. Zacks Investment Research downgraded Rhythm Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, July 17th. Stifel Nicolaus reaffirmed a buy rating and set a $34.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, July 29th. Finally, ValuEngine raised Rhythm Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $38.80.

Shares of RYTM opened at $24.51 on Wednesday. The company has a quick ratio of 7.80, a current ratio of 7.80 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average of $21.56 and a 200 day moving average of $24.20. Rhythm Pharmaceuticals has a 12 month low of $18.00 and a 12 month high of $32.62.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Monday, July 29th. The company reported ($1.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($0.36). Research analysts predict that Rhythm Pharmaceuticals will post -4.16 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd purchased a new stake in Rhythm Pharmaceuticals in the second quarter worth $31,000. Marshall Wace North America L.P. purchased a new stake in Rhythm Pharmaceuticals in the first quarter worth $33,000. Bank of Montreal Can increased its position in Rhythm Pharmaceuticals by 194,200.0% in the second quarter. Bank of Montreal Can now owns 1,943 shares of the company’s stock worth $43,000 after buying an additional 1,942 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Rhythm Pharmaceuticals by 105,433.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,166 shares of the company’s stock worth $87,000 after buying an additional 3,163 shares during the last quarter. Finally, Tiff Advisory Services Inc. purchased a new stake in Rhythm Pharmaceuticals in the first quarter worth $217,000. 90.58% of the stock is owned by institutional investors and hedge funds.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic disorders that result in life-threatening metabolic disorders. The company's lead product candidate is setmelanotide, a melanocortin-4 receptor agonist peptide, which is in Phase III clinical trials to treat pro-opiomelanocortin (POMC) and leptin receptor deficiency obesity, and Bardet-Biedl and Alström syndrome; and is in Phase II clinical trials for treating POMC heterozygous deficiency obesity and POMC epigenetic disorders.

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Analyst Recommendations for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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