Rhythm Pharmaceuticals (NASDAQ:RYTM) Now Covered by Oppenheimer

Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a research note issued to investors on Friday, MarketBeat reports. The firm issued an outperform rating and a $76.00 price target on the stock.

Other equities research analysts have also issued research reports about the company. JMP Securities started coverage on Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 target price on the stock. TD Cowen upped their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Guggenheim started coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 target price for the company. Needham & Company LLC upped their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.80.

Rhythm Pharmaceuticals Trading Up 1.2 %

NASDAQ RYTM opened at $56.12 on Friday. Rhythm Pharmaceuticals has a 12-month low of $35.17 and a 12-month high of $68.58. The company has a fifty day simple moving average of $56.39 and a two-hundred day simple moving average of $50.13. The stock has a market cap of $3.45 billion, a P/E ratio of -12.96 and a beta of 2.14.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. The company had revenue of $33.20 million during the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm’s quarterly revenue was up 47.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.76) EPS. As a group, sell-side analysts forecast that Rhythm Pharmaceuticals will post -4.34 earnings per share for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, EVP Jennifer Kayden Lee sold 66,861 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $66.33, for a total value of $4,434,890.13. Following the sale, the executive vice president now directly owns 972 shares in the company, valued at approximately $64,472.76. The trade was a 98.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Pamela J. Cramer sold 4,688 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $65.00, for a total value of $304,720.00. Following the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at $877,500. The trade was a 25.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,830 shares of company stock valued at $5,622,000. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the company. Castleark Management LLC boosted its stake in Rhythm Pharmaceuticals by 1.3% during the 3rd quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock worth $1,009,000 after purchasing an additional 250 shares during the last quarter. CWM LLC lifted its stake in shares of Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after buying an additional 253 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Rhythm Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after acquiring an additional 391 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in Rhythm Pharmaceuticals during the 3rd quarter valued at about $63,000. Finally, Quest Partners LLC raised its holdings in Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after acquiring an additional 1,391 shares during the last quarter.

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.