Rhythm Pharmaceuticals Inc (RYTM) Receives Average Rating of “Hold” from Analysts

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.

Several hedge funds have recently added to or reduced their stakes in the company. TD Asset Management Inc. grew its position in shares of Rhythm Pharmaceuticals by 5.5% in the fourth quarter. TD Asset Management Inc. now owns 15,359 shares of the company’s stock valued at $413,000 after purchasing an additional 797 shares during the last quarter. Legal & General Group Plc boosted its position in Rhythm Pharmaceuticals by 46.6% during the third quarter. Legal & General Group Plc now owns 2,675 shares of the company’s stock worth $78,000 after acquiring an additional 850 shares during the last quarter. Great West Life Assurance Co. Can acquired a new stake in Rhythm Pharmaceuticals during the fourth quarter worth approximately $68,000. BNP Paribas Arbitrage SA boosted its position in Rhythm Pharmaceuticals by 105,433.3% during the first quarter. BNP Paribas Arbitrage SA now owns 3,166 shares of the company’s stock worth $87,000 after acquiring an additional 3,163 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Rhythm Pharmaceuticals by 25.7% during the fourth quarter. New York State Common Retirement Fund now owns 17,105 shares of the company’s stock worth $460,000 after acquiring an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 92.16% 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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Analyst Recommendations for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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