Rhythm Pharmaceuticals (NASDAQ:RYTM) Issues Earnings Results

Rhythm Pharmaceuticals (NASDAQ:RYTM) posted its quarterly earnings data on Wednesday. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.03), Zacks reports. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM traded up $0.92 during trading hours on Wednesday, hitting $51.95. The company’s stock had a trading volume of 59,243 shares, compared to its average volume of 478,137. The company has a market capitalization of $3.19 billion, a P/E ratio of -11.93 and a beta of 2.14. Rhythm Pharmaceuticals has a twelve month low of $35.17 and a twelve month high of $68.58. The stock has a fifty day simple moving average of $56.99 and a 200-day simple moving average of $54.22.

Analysts Set New Price Targets

Several equities analysts recently commented on RYTM shares. JMP Securities restated a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price target for the company. TD Cowen increased their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a report on Wednesday, February 19th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $68.09.

Insider Transactions at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $76,129.83. Following the sale, the insider now directly owns 2,657 shares in the company, valued at $157,905.51. This trade represents a 32.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of the transaction, the chief accounting officer now owns 2,070 shares of the company’s stock, valued at approximately $118,445.40. This trade represents a 23.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,787 shares of company stock valued at $1,901,443. 5.60% of the stock is currently owned by insiders.

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.