Shares of Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) have received a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $39.75.
A number of research analysts have issued reports on the stock. Zacks Investment Research cut shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price target on shares of Rhythm Pharmaceuticals in a research report on Sunday. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $43.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, May 3rd. ValuEngine lowered shares of Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, BidaskClub lowered shares of Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 30th.
In other news, CEO Keith Michael Gottesdiener sold 12,920 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $30.02, for a total value of $387,858.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 38,881 shares of company stock worth $1,168,270 over the last quarter. Company insiders own 4.93% of the company’s stock.
Rhythm Pharmaceuticals stock traded down $0.21 during mid-day trading on Friday, reaching $25.34. The company had a trading volume of 2,972 shares, compared to its average volume of 85,203. Rhythm Pharmaceuticals has a 1 year low of $23.44 and a 1 year high of $37.23. The stock has a market cap of $858.05 million, a PE ratio of -10.62 and a beta of 1.27.
Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Friday, May 3rd. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.76) by ($0.08). On average, research analysts predict that Rhythm Pharmaceuticals will post -3.01 earnings per share for the current fiscal year.
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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