Rhythm Pharmaceuticals (NASDAQ:RYTM) Posts Quarterly Earnings Results, Misses Expectations By $1.46 EPS

Rhythm Pharmaceuticals (NASDAQ:RYTM) posted its quarterly earnings data on Sunday. The company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($1.46), Fidelity Earnings reports.

Shares of NASDAQ RYTM traded down $0.38 during midday trading on Tuesday, reaching $21.57. 19,344 shares of the company’s stock were exchanged, compared to its average volume of 456,222. Rhythm Pharmaceuticals has a 52-week low of $17.27 and a 52-week high of $43.26. The stock has a market capitalization of $1.08 billion, a PE ratio of -7.22 and a beta of 1.57. The business’s fifty day moving average price is $22.03 and its two-hundred day moving average price is $26.59.

In other Rhythm Pharmaceuticals news, CEO David P. Meeker bought 10,000 shares of the company’s stock in a transaction dated Tuesday, March 30th. The shares were acquired at an average cost of $20.17 per share, with a total value of $201,700.00. Following the completion of the transaction, the chief executive officer now owns 111,335 shares in the company, valued at $2,245,626.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.49% of the stock is currently owned by insiders.

Several research firms have recently issued reports on RYTM. LADENBURG THALM/SH SH raised their price objective on Rhythm Pharmaceuticals from $43.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 27th. Canaccord Genuity raised their price objective on Rhythm Pharmaceuticals from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, January 27th. Stifel Nicolaus raised their price objective on Rhythm Pharmaceuticals from $36.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, January 27th. Morgan Stanley lifted their target price on Rhythm Pharmaceuticals from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 9th. Finally, Zacks Investment Research upgraded Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, March 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $46.86.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic diseases of obesity. The company's lead product candidate is IMCIVREE, a potent 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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Earnings History for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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