Rhythm Pharmaceuticals (NASDAQ:RYTM) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Rhythm Pharmaceuticals, Inc. is a biopharmaceutical company. It focused on the development and commercialization of peptide therapeutics for the treatment of rare genetic deficiencies which result in life-threatening metabolic disorders. The Company’s product candidate principally consists of setmelanotide, a potent, first-in-class melanocortin-4 receptor or MC4R, agonist for the treatment of rare genetic disorders of obesity. Rhythm Pharmaceuticals, Inc. is based in Boston, MA. “

A number of other research analysts also recently issued reports on the company. LADENBURG THALM/SH SH reaffirmed a buy rating and set a $43.00 price target on shares of Rhythm Pharmaceuticals in a report on Friday, May 3rd. ValuEngine downgraded Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. BidaskClub raised DENTSPLY SIRONA from a buy rating to a strong-buy rating in a report on Thursday, June 13th. Stifel Nicolaus reaffirmed a buy rating and set a $238.00 price target (up from $209.00) on shares of Lululemon Athletica in a report on Friday, July 12th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $42.00 price target on shares of Rhythm Pharmaceuticals in a report on Sunday, May 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Rhythm Pharmaceuticals has a consensus rating of Hold and an average price target of $38.67.

NASDAQ RYTM opened at $21.39 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 18.32 and a current ratio of 18.32. Rhythm Pharmaceuticals has a 12 month low of $19.90 and a 12 month high of $34.97. The business has a fifty day moving average of $22.46.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Friday, May 3rd. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.08). As a group, equities analysts anticipate that Rhythm Pharmaceuticals will post -3.42 earnings per share for the current year.

In other Rhythm Pharmaceuticals news, insider Der Ploeg Leonardus H.T. Van sold 15,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $25.42, for a total value of $381,300.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.45% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of RYTM. Marshall Wace North America L.P. bought a new position in Rhythm Pharmaceuticals in the first quarter valued at about $33,000. Great West Life Assurance Co. Can bought a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $68,000. BNP Paribas Arbitrage SA lifted its holdings 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 valued at $87,000 after acquiring an additional 3,163 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings in Rhythm Pharmaceuticals by 424.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,020 shares of the company’s stock valued at $135,000 after acquiring an additional 4,062 shares during the period. Finally, Tiff Advisory Services Inc. bought a new position in Rhythm Pharmaceuticals in the first quarter valued at about $217,000. 89.63% of the stock is currently owned by institutional investors.

Rhythm Pharmaceuticals Company Profile

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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