Rhythm Pharmaceuticals (NASDAQ:RYTM) posted its earnings results on Friday. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.06), MarketWatch Earnings reports.
Shares of RYTM stock traded down $1.99 during mid-day trading on Friday, hitting $29.35. 114,668 shares of the stock were exchanged, compared to its average volume of 134,820. The firm has a market cap of $1.03 billion and a price-to-earnings ratio of -10.37. Rhythm Pharmaceuticals has a 12-month low of $16.80 and a 12-month high of $37.23.
Several research firms recently commented on RYTM. Needham & Company LLC set a $42.00 target price on Rhythm Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 9th. Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a report on Friday, September 14th. They set a “hold” rating and a $36.00 price objective on the stock. BidaskClub lowered Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Morgan Stanley initiated coverage on Rhythm Pharmaceuticals in a report on Friday, September 7th. They set an “overweight” rating on the stock. Finally, Zacks Investment Research lowered Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $38.60.
An institutional investor recently raised its position in Rhythm Pharmaceuticals stock. Bank of New York Mellon Corp lifted its holdings in shares of Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) by 55.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,793 shares of the company’s stock after buying an additional 13,462 shares during the period. Bank of New York Mellon Corp owned approximately 0.11% of Rhythm Pharmaceuticals worth $1,181,000 at the end of the most recent quarter. Institutional investors own 87.08% of the company’s stock.
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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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