Rhythm Pharmaceuticals (RYTM) to Release Earnings on Tuesday

by · The Markets Daily

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) is scheduled to announce its earnings results after the market closes on Tuesday, November 5th. Analysts expect Rhythm Pharmaceuticals to post earnings of ($0.80) per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) 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% on a year-over-year basis. During the same period in the prior year, the company earned ($0.82) EPS. On average, analysts expect Rhythm Pharmaceuticals to post $-4 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Rhythm Pharmaceuticals Trading Up 1.8 %

Shares of NASDAQ RYTM opened at $49.43 on Tuesday. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -10.68 and a beta of 2.07. The stock’s 50-day moving average is $49.35 and its 200 day moving average is $44.79. Rhythm Pharmaceuticals has a 1-year low of $21.67 and a 1-year high of $55.64.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 3,200 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $50.01, for a total value of $160,032.00. Following the completion of the transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $675,135. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Pamela J. Cramer sold 3,200 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $50.01, for a total value of $160,032.00. Following the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at $675,135. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lynn A. Tetrault sold 4,300 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $50.01, for a total value of $215,043.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $150,030. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,857 shares of company stock worth $5,325,446 over the last quarter. Corporate insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RYTM. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 7th. Guggenheim started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a “buy” rating and a $70.00 price target for the company. Bank of America raised their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. JMP Securities initiated 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. Finally, HC Wainwright restated a “buy” rating and set a $64.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.33.

Read Our Latest Analysis on Rhythm Pharmaceuticals

Rhythm Pharmaceuticals Company Profile

(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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