Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Joseph Shulman sold 13,281 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $66.44, for a total transaction of $882,389.64. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Rhythm Pharmaceuticals Stock Performance
NASDAQ RYTM opened at $60.07 on Thursday. Rhythm Pharmaceuticals, Inc. has a one year low of $29.38 and a one year high of $68.58. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of -13.87 and a beta of 2.09. The firm has a 50 day simple moving average of $52.00 and a 200-day simple moving average of $46.34.
Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating analysts' consensus estimates of ($0.80) by $0.07. 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 net margin of 230.07% and a negative return on equity of 367.36%. The firm's revenue was up 47.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.76) earnings per share. Equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.41 EPS for the current fiscal year.
Analysts Set New Price Targets
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Several equities analysts have recently weighed in on RYTM shares. Needham & Company LLC increased their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Guggenheim started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 21st. They set a "buy" rating and a $70.00 target price on the stock. JMP Securities assumed coverage on shares of Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an "outperform" rating and a $64.00 target price on the stock. TD Cowen increased their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Finally, Bank of America increased their price target 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. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $62.30.
Read Our Latest Stock Analysis on RYTM
Hedge Funds Weigh In On Rhythm Pharmaceuticals
Large investors have recently bought and sold shares of the stock. CWM LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company's stock worth $27,000 after purchasing an additional 253 shares during the last quarter. ORG Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals during the 2nd quarter valued at $51,000. ORG Wealth Partners LLC bought a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter worth approximately $63,000. Quest Partners LLC lifted its position in shares of Rhythm Pharmaceuticals by 513.3% during 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. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company's stock valued at $114,000 after purchasing an additional 391 shares during the period.
Rhythm Pharmaceuticals Company Profile
(
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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