Key Points
- Director Lynn Tetrault sold 37,000 shares of Rhythm Pharmaceuticals at an average price of $100.32, totaling about $3.71 million. After the sale, Tetrault retained 7,000 shares, an 84% reduction in the position, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- Rhythm Pharmaceuticals shares were up 1.3% and opened at $107.55, near the company’s 12-month high of $122.20. The stock has a market cap of $7.37 billion and remains volatile with a beta of 1.91.
- Recent results and analyst sentiment remain mixed but generally positive: the company beat quarterly EPS and revenue expectations, and most analysts rate the stock a Buy, with a consensus price target of $133.12. However, the business is still unprofitable, and one analyst has a Sell rating.
Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) Director Lynn Tetrault sold 37,000 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the completion of the transaction, the director owned 7,000 shares of the company's stock, valued at $702,240. This trade represents a 84.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Rhythm Pharmaceuticals Stock Up 1.3%
Shares of NASDAQ:RYTM opened at $107.55 on Thursday. Rhythm Pharmaceuticals, Inc. has a 12 month low of $60.80 and a 12 month high of $122.20. The company's fifty day simple moving average is $89.86 and its 200 day simple moving average is $95.79. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of -34.36 and a beta of 1.91.
Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.03. The business had revenue of $60.11 million for the quarter, compared to analysts' expectations of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The firm's revenue was up 83.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.81) EPS. Research analysts expect that Rhythm Pharmaceuticals, Inc. will post -3.11 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. M&T Bank Corp acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at approximately $9,202,000. Jennison Associates LLC grew its stake in shares of Rhythm Pharmaceuticals by 123.2% in the fourth quarter. Jennison Associates LLC now owns 918,567 shares of the company's stock valued at $98,323,000 after buying an additional 507,017 shares in the last quarter. Capital Research Global Investors acquired a new position in Rhythm Pharmaceuticals during the third quarter worth $60,417,000. Aquatic Capital Management LLC increased its holdings in Rhythm Pharmaceuticals by 974.9% during the third quarter. Aquatic Capital Management LLC now owns 42,490 shares of the company's stock worth $4,291,000 after buying an additional 38,537 shares during the last quarter. Finally, Zweig DiMenna Associates LLC bought a new stake in Rhythm Pharmaceuticals during the fourth quarter worth $8,734,000.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on RYTM. Jefferies Financial Group restated a "buy" rating and issued a $125.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, March 3rd. Royal Bank Of Canada increased their price objective on Rhythm Pharmaceuticals from $136.00 to $137.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Needham & Company LLC dropped their target price on Rhythm Pharmaceuticals from $139.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, March 17th. Bank of America cut their target price on Rhythm Pharmaceuticals from $145.00 to $139.00 and set a "buy" rating on the stock in a research note on Tuesday, March 17th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $133.12.
Read Our Latest Report on Rhythm Pharmaceuticals
Rhythm Pharmaceuticals Company Profile
(
Get Free Report)
Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company's research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.
The company's lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.
Further Reading
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