Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Free Report) insider Joseph Shulman sold 13,281 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $66.44, for a total value of $882,389.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Rhythm Pharmaceuticals Trading Down 6.2 %
Shares of RYTM traded down $3.99 during midday trading on Wednesday, reaching $60.07. 849,858 shares of the company were exchanged, compared to its average volume of 547,327. The stock has a 50-day moving average price of $52.00 and a 200-day moving average price of $46.34. Rhythm Pharmaceuticals, Inc. has a 1-year low of $29.38 and a 1-year high of $68.58. The company has a market cap of $3.69 billion, a price-to-earnings ratio of -13.87 and a beta of 2.09.
Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. The business 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 367.36% and a negative net margin of 230.07%. The business’s quarterly revenue was up 47.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.76) EPS. Equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.41 earnings per share for the current year.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on RYTM. Bank of America lifted their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th. HC Wainwright raised their price target on shares of Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC upped their price objective on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. TD Cowen increased their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group lifted their target price on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.30.
Get Our Latest Research Report on RYTM
About Rhythm Pharmaceuticals
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.
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