Rhythm Pharmaceuticals (NASDAQ:RYTM) Earns Buy Rating from HC Wainwright

by · The Cerbat Gem

HC Wainwright reissued their buy rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM – Free Report) in a research report report published on Monday, Benzinga reports. They currently have a $64.00 price objective on the stock. HC Wainwright also issued estimates for Rhythm Pharmaceuticals’ Q3 2024 earnings at ($0.77) EPS, Q4 2024 earnings at ($0.78) EPS, FY2024 earnings at ($4.42) EPS, Q1 2025 earnings at ($0.73) EPS, Q2 2025 earnings at ($0.66) EPS, Q3 2025 earnings at ($0.62) EPS, Q4 2025 earnings at ($0.55) EPS and FY2025 earnings at ($2.56) EPS.

A number of other equities research analysts have also recently commented on the stock. Needham & Company LLC restated a buy rating and issued a $55.00 price target on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. JMP Securities began coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an outperform rating and a $64.00 target price for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $57.88.

View Our Latest Report on RYTM

Rhythm Pharmaceuticals Trading Down 0.8 %

RYTM stock opened at $47.72 on Monday. The firm has a market cap of $2.92 billion, a PE ratio of -10.31 and a beta of 2.07. The stock has a 50-day moving average price of $48.22 and a 200-day moving average price of $44.05. Rhythm Pharmaceuticals has a 1-year low of $21.34 and a 1-year high of $55.64.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.16. The firm had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.79 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The company’s revenue was up 51.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.82) earnings per share. On average, analysts forecast that Rhythm Pharmaceuticals will post -4.43 earnings per share for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, Director Jennifer L. Good sold 31,751 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total value of $1,663,752.40. Following the completion of the sale, the director now directly owns 3,000 shares of the company’s stock, valued at $157,200. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Jennifer L. Good sold 31,751 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at approximately $157,200. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lynn A. Tetrault sold 17,501 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $49.65, for a total value of $868,924.65. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $148,950. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,033 shares of company stock worth $6,214,392. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $494,000. Parkwood LLC bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at $469,000. Old Well Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter valued at $211,000. Quarry LP bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth $69,000. Finally, Perceptive Advisors LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 465.6% in the 4th quarter. Perceptive Advisors LLC now owns 2,154,110 shares of the company’s stock worth $99,024,000 after buying an additional 1,773,282 shares during the last quarter.

About Rhythm Pharmaceuticals

(Get Free Report)

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare 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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