Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Pamela J. Cramer sold 4,688 shares of Rhythm Pharmaceuticals stock in a transaction 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 approximately $877,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Rhythm Pharmaceuticals Price Performance
RYTM stock opened at $67.33 on Friday. The company has a 50 day moving average price of $51.01 and a 200 day moving average price of $45.79. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $26.55 and a fifty-two week high of $67.61. The stock has a market capitalization of $4.12 billion, a PE ratio of -15.55 and a beta of 2.09.
Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 286.94% and a negative net margin of 230.07%. The company had revenue of $33.20 million during the quarter, compared to analysts' expectations of $32.52 million. During the same period last year, the firm earned ($0.76) EPS. The business's revenue for the quarter was up 47.6% on a year-over-year basis. As a group, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.45 earnings per share for the current fiscal year.
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A number of equities research analysts recently issued reports on the stock. Bank of America increased their target price on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. HC Wainwright raised their price objective on shares of Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday. Needham & Company LLC boosted their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday. Guggenheim assumed coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a "buy" rating and a $70.00 price target on the stock. Finally, JMP Securities began coverage on Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They issued an "outperform" rating and a $64.00 price objective for the company. 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.30.
Get Our Latest Stock Report on Rhythm Pharmaceuticals
Institutional Trading of Rhythm Pharmaceuticals
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Rhythm Pharmaceuticals by 381.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 730,643 shares of the company's stock valued at $31,659,000 after purchasing an additional 578,800 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of Rhythm Pharmaceuticals by 38.2% during the second quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company's stock worth $48,548,000 after purchasing an additional 326,865 shares during the period. Canada Pension Plan Investment Board lifted its stake in Rhythm Pharmaceuticals by 116.1% in the first quarter. Canada Pension Plan Investment Board now owns 577,000 shares of the company's stock valued at $25,001,000 after buying an additional 310,000 shares during the period. Candriam S.C.A. bought a new position in Rhythm Pharmaceuticals during the second quarter worth about $11,143,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Rhythm Pharmaceuticals by 157.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 374,347 shares of the company's stock worth $15,371,000 after buying an additional 229,056 shares during the period.
About Rhythm Pharmaceuticals
(
Get Free Report)
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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