Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) CAO Christopher Paul German sold 368 shares of the firm's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $41.76, for a total transaction of $15,367.68. Following the sale, the chief accounting officer now directly owns 795 shares of the company's stock, valued at approximately $33,199.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Rhythm Pharmaceuticals Stock Performance
Shares of RYTM stock opened at $40.89 on Thursday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $15.50 and a 52-week high of $52.57. The stock has a market cap of $2.46 billion, a PE ratio of -12.78 and a beta of 1.90. The firm's 50 day moving average price is $44.15 and its two-hundred day moving average price is $36.89.
Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.70) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.70). Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. The firm had revenue of $24.23 million for the quarter, compared to analysts' expectations of $25.38 million. During the same period last year, the firm earned ($0.75) earnings per share. The business's revenue for the quarter was up 175.7% on a year-over-year basis. As a group, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.03 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
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RYTM has been the subject of a number of research reports. The Goldman Sachs Group raised their price target on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, January 25th. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday, February 22nd. Morgan Stanley raised shares of Rhythm Pharmaceuticals from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $29.00 to $55.00 in a report on Tuesday, December 19th. Finally, Wells Fargo & Company raised their price target on shares of Rhythm Pharmaceuticals from $48.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, December 19th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $47.40.
Check Out Our Latest Research Report on Rhythm Pharmaceuticals
Hedge Funds Weigh In On Rhythm Pharmaceuticals
A number of hedge funds and other institutional investors have recently bought and sold shares of RYTM. State Street Corp boosted its stake in Rhythm Pharmaceuticals by 1,145.9% in the third quarter. State Street Corp now owns 3,127,905 shares of the company's stock valued at $76,634,000 after acquiring an additional 2,876,846 shares during the last quarter. BlackRock Inc. boosted its position in shares of Rhythm Pharmaceuticals by 65.7% during the second quarter. BlackRock Inc. now owns 6,265,005 shares of the company's stock worth $103,310,000 after purchasing an additional 2,484,406 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Rhythm Pharmaceuticals by 80.7% during the first quarter. Federated Hermes Inc. now owns 5,065,113 shares of the company's stock worth $58,350,000 after purchasing an additional 2,261,778 shares in the last quarter. Perceptive Advisors LLC boosted its position in shares of Rhythm Pharmaceuticals by 465.6% during the fourth quarter. Perceptive Advisors LLC now owns 2,154,110 shares of the company's stock worth $99,024,000 after purchasing an additional 1,773,282 shares in the last quarter. Finally, Braidwell LP bought a new position in shares of Rhythm Pharmaceuticals during the second quarter worth $13,903,000.
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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