Rhythm Pharmaceuticals (NASDAQ:RYTM) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Rhythm Pharmaceuticals (NASDAQ:RYTM) issued its quarterly earnings data on Tuesday. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.07, Briefing.com reports. The firm had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The company’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.76) EPS.

Rhythm Pharmaceuticals Trading Up 13.5 %

RYTM traded up $7.59 on Wednesday, hitting $63.84. 2,158,250 shares of the company’s stock were exchanged, compared to its average volume of 536,038. The stock has a fifty day moving average of $49.92 and a two-hundred day moving average of $45.34. The firm has a market cap of $3.90 billion, a PE ratio of -14.45 and a beta of 2.09. Rhythm Pharmaceuticals has a twelve month low of $23.83 and a twelve month high of $64.73.

Insider Activity

In other news, insider Pamela J. Cramer sold 3,200 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $50.01, for a total value of $160,032.00. Following the completion of the transaction, the insider now directly owns 13,500 shares in the company, valued at $675,135. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Pamela J. Cramer sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $50.01, for a total transaction of $160,032.00. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $675,135. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jennifer L. Good sold 31,751 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the sale, the director now owns 3,000 shares of the company’s stock, valued at $157,200. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,857 shares of company stock worth $5,325,446 over the last three months. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RYTM. Bank of America boosted their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th. TD Cowen upped their price target on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday. Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 price target for the company. Canaccord Genuity Group upped their price target on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $64.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.80.

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.