Rhythm Pharmaceuticals (NASDAQ:RYTM) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub downgraded shares of Rhythm Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 29th. Needham & Company LLC set a $42.00 target price on shares of Rhythm Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, December 14th. Cowen reaffirmed a “buy” rating and set a $40.00 target price on shares of Rhythm Pharmaceuticals in a research note on Friday, March 8th. Finally, LADENBURG THALM/SH SH began coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday. They set a “buy” rating and a $43.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $39.33.
RYTM traded up $0.58 on Friday, reaching $30.02. 71,290 shares of the company’s stock were exchanged, compared to its average volume of 83,427. The firm has a market capitalization of $1.01 billion, a PE ratio of -12.56 and a beta of 1.43. Rhythm Pharmaceuticals has a twelve month low of $16.80 and a twelve month high of $37.23.
Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Friday, March 8th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.17). Equities analysts anticipate that Rhythm Pharmaceuticals will post -2.17 EPS for the current year.
In other Rhythm Pharmaceuticals news, CEO Keith Michael Gottesdiener sold 3,934 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $30.00, for a total transaction of $118,020.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 55,347 shares of company stock worth $1,662,214 over the last ninety days. 4.93% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC raised its stake in shares of Rhythm Pharmaceuticals by 33.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,050,838 shares of the company’s stock valued at $88,993,000 after acquiring an additional 759,053 shares during the period. FMR LLC increased its stake in Rhythm Pharmaceuticals by 4.0% during the 4th quarter. FMR LLC now owns 1,690,007 shares of the company’s stock worth $45,427,000 after buying an additional 65,213 shares during the period. BlackRock Inc. increased its stake in Rhythm Pharmaceuticals by 36.2% during the 4th quarter. BlackRock Inc. now owns 1,554,706 shares of the company’s stock worth $41,790,000 after buying an additional 413,203 shares during the period. Vanguard Group Inc. increased its stake in Rhythm Pharmaceuticals by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,048,186 shares of the company’s stock worth $30,575,000 after buying an additional 115,177 shares during the period. Finally, Vanguard Group Inc increased its stake in Rhythm Pharmaceuticals by 12.3% during the 3rd quarter. Vanguard Group Inc now owns 1,048,186 shares of the company’s stock worth $30,575,000 after buying an additional 115,177 shares during the period. 92.16% 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 peptide therapeutics for the treatment of rare genetic disorders of obesity in the United States. Its peptide candidates include Setmelanotide, a melanocortin-4 receptor agonist, which is in Phase III clinical trial to treat POMC and leptin receptor deficiency obesity; and Phase II clinical trial for Bardet-Biedl and Alström syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.
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