Rhythm Pharmaceuticals (NASDAQ:RYTM) Trading 10.1% Higher

Shares of Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) traded up 10.1% on Monday . The stock traded as high as $23.73 and last traded at $23.54, 360,254 shares were traded during trading. An increase of 114% from the average session volume of 168,187 shares. The stock had previously closed at $21.39.

Several research analysts recently weighed in on the company. Cowen restated a “buy” rating and set a $40.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday, September 25th. Canaccord Genuity began coverage on Rhythm Pharmaceuticals in a research report on Monday, July 8th. They set a “buy” rating and a $35.00 price target for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $34.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, July 29th. Zacks Investment Research cut Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. Finally, BidaskClub cut Rhythm Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $38.80.

The stock has a 50-day simple moving average of $21.94 and a 200 day simple moving average of $23.02. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.02. The company has a market cap of $779.58 million, a price-to-earnings ratio of -9.85 and a beta of 0.64.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Monday, July 29th. The company reported ($1.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($0.36). As a group, research analysts forecast that Rhythm Pharmaceuticals Inc will post -4.2 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in shares of Rhythm Pharmaceuticals by 0.3% in the 2nd quarter. Janus Henderson Group PLC now owns 3,292,325 shares of the company’s stock valued at $72,431,000 after buying an additional 10,556 shares during the period. BlackRock Inc. increased its stake in shares of Rhythm Pharmaceuticals by 24.9% in the 2nd quarter. BlackRock Inc. now owns 1,908,058 shares of the company’s stock valued at $41,976,000 after purchasing an additional 380,085 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Rhythm Pharmaceuticals by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,187,260 shares of the company’s stock valued at $26,120,000 after purchasing an additional 35,270 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Rhythm Pharmaceuticals by 6.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,072,041 shares of the company’s stock valued at $23,585,000 after purchasing an additional 64,625 shares in the last quarter. Finally, Rock Springs Capital Management LP increased its stake in shares of Rhythm Pharmaceuticals by 8.5% in the 2nd quarter. Rock Springs Capital Management LP now owns 235,000 shares of the company’s stock valued at $5,170,000 after purchasing an additional 18,500 shares in the last quarter. 90.58% of the stock is owned by institutional investors.

About Rhythm Pharmaceuticals (NASDAQ:RYTM)

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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