Rhythm Pharmaceuticals (NASDAQ:RYTM) Trading 10.9% Higher – What’s Next?

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) shares traded up 10.9% on Tuesday . The company traded as high as $81.69 and last traded at $85.6350. 42,206 shares were traded during trading, a decline of 95% from the average session volume of 800,525 shares. The stock had previously closed at $77.25.

Analysts Set New Price Targets

Several equities analysts recently commented on RYTM shares. HC Wainwright decreased their price target on shares of Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Stifel Nicolaus set a $131.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Thursday, February 26th. Zacks Research raised shares of Rhythm Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Canaccord Genuity Group decreased their target price on shares of Rhythm Pharmaceuticals from $141.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.13.

Rhythm Pharmaceuticals Price Performance

The company has a market cap of $6.02 billion, a P/E ratio of -28.33 and a beta of 2.06. The stock has a 50-day moving average of $95.40 and a 200 day moving average of $101.49.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.06. The business had revenue of $57.25 million during the quarter, compared to analysts’ expectations of $56.16 million. Rhythm Pharmaceuticals had a negative net margin of 103.57% and a negative return on equity of 266.56%. Rhythm Pharmaceuticals’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.72) earnings per share. Sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 4,385 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $101.26, for a total transaction of $444,025.10. Following the completion of the sale, the chief financial officer directly owned 110,512 shares in the company, valued at $11,190,445.12. This represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher Paul German sold 5,614 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $89.56, for a total value of $502,789.84. Following the sale, the chief accounting officer owned 160 shares of the company’s stock, valued at $14,329.60. The trade was a 97.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 27,267 shares of company stock valued at $2,719,955. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its position in shares of Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 200 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Rhythm Pharmaceuticals by 97.2% in the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after acquiring an additional 141 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in Rhythm Pharmaceuticals by 73.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 145 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Rhythm Pharmaceuticals by 1,110.3% during the third quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock worth $35,000 after acquiring an additional 322 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 48.6% in the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after acquiring an additional 118 shares during the last quarter.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.