Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) Given Consensus Recommendation of “Hold” by Brokerages

Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) has earned a consensus rating of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $35.33.

A number of research analysts recently commented on the stock. Goldman Sachs Group assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday, January 8th. They set a “sell” rating and a $18.00 price objective on the stock. BidaskClub lowered shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday. Cowen restated a “buy” rating and issued a $40.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday, September 25th. Finally, Zacks Investment Research lowered shares of Rhythm Pharmaceuticals from a “buy” rating to a “sell” rating in a research report on Thursday, January 9th.

In other Rhythm Pharmaceuticals news, insider Nithya Desikan sold 35,181 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $22.79, for a total value of $801,774.99. Following the transaction, the insider now owns 64,249 shares in the company, valued at $1,464,234.71. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Todd Foley sold 141,365 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $22.02, for a total transaction of $3,112,857.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 492,856 shares of company stock worth $11,079,199. 4.45% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of RYTM. SG Americas Securities LLC purchased a new position in Rhythm Pharmaceuticals during the 3rd quarter worth approximately $1,547,000. Millennium Management LLC grew its position in Rhythm Pharmaceuticals by 1,110.9% during the 3rd quarter. Millennium Management LLC now owns 240,428 shares of the company’s stock worth $5,190,000 after purchasing an additional 220,573 shares in the last quarter. Susquehanna International Group LLP purchased a new position in Rhythm Pharmaceuticals during the 2nd quarter worth approximately $328,000. State Street Corp grew its position in Rhythm Pharmaceuticals by 18.7% during the 3rd quarter. State Street Corp now owns 717,540 shares of the company’s stock worth $15,492,000 after purchasing an additional 113,164 shares in the last quarter. Finally, California Public Employees Retirement System purchased a new position in Rhythm Pharmaceuticals during the 3rd quarter worth approximately $238,000. Hedge funds and other institutional investors own 78.13% of the company’s stock.

Shares of NASDAQ RYTM traded up $0.24 during mid-day trading on Thursday, reaching $21.27. 135,300 shares of the company traded hands, compared to its average volume of 219,922. Rhythm Pharmaceuticals has a fifty-two week low of $18.00 and a fifty-two week high of $31.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.78 and a quick ratio of 6.78. The firm has a market cap of $923.85 million, a PE ratio of -8.90 and a beta of 0.66. The stock has a fifty day simple moving average of $23.04 and a 200-day simple moving average of $21.86.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Friday, November 1st. The company reported ($1.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.06) by $0.02. As a group, analysts predict that Rhythm Pharmaceuticals will post -3.99 EPS for the current fiscal year.

About Rhythm Pharmaceuticals

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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