Rhythm Pharmaceuticals (NASDAQ:RYTM) Upgraded at BidaskClub

BidaskClub upgraded shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday, BidAskClub reports.

Other research analysts have also issued reports about the company. Canaccord Genuity began coverage on Rhythm Pharmaceuticals in a research note on Monday, July 8th. They issued a buy rating and a $35.00 target price for the company. Stifel Nicolaus reiterated a buy rating and set a $34.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, July 29th. LADENBURG THALM/SH SH reiterated a buy rating and set a $43.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, September 9th. Zacks Investment Research lowered Rhythm Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, July 17th. Finally, ValuEngine upgraded Rhythm Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. Rhythm Pharmaceuticals has a consensus rating of Buy and a consensus target price of $38.80.

Shares of NASDAQ RYTM opened at $24.51 on Wednesday. The business has a fifty day simple moving average of $21.56 and a 200 day simple moving average of $24.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.80 and a current ratio of 7.80. Rhythm Pharmaceuticals has a one year low of $18.00 and a one year high of $32.62.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Monday, July 29th. The company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.36). Analysts predict that Rhythm Pharmaceuticals will post -4.16 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in Rhythm Pharmaceuticals in the second quarter valued at about $31,000. Marshall Wace North America L.P. bought a new position in Rhythm Pharmaceuticals in the first quarter valued at about $33,000. Bank of Montreal Can boosted its holdings in Rhythm Pharmaceuticals by 194,200.0% in the second quarter. Bank of Montreal Can now owns 1,943 shares of the company’s stock valued at $43,000 after acquiring an additional 1,942 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Rhythm Pharmaceuticals by 105,433.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,166 shares of the company’s stock valued at $87,000 after acquiring an additional 3,163 shares during the last quarter. Finally, Tiff Advisory Services Inc. bought a new position in Rhythm Pharmaceuticals in the first quarter valued at about $217,000. Institutional investors own 90.58% of the company’s stock.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic disorders that result in life-threatening metabolic disorders. The company's lead product candidate is setmelanotide, a melanocortin-4 receptor agonist peptide, which is in Phase III clinical trials to treat pro-opiomelanocortin (POMC) and leptin receptor deficiency obesity, and Bardet-Biedl and Alström syndrome; and is in Phase II clinical trials for treating POMC heterozygous deficiency obesity and POMC epigenetic disorders.

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Analyst Recommendations for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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