Key Points
- Rhythm Pharmaceuticals EVP Yann Mazabraud sold 57,000 shares for approximately $6.62 million at an average price of $116.15 under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 50.6% to 55,655 shares.
- The company reported stronger-than-expected quarterly results, with revenue of $71.25 million—up 46.9% year over year—and a loss of $0.73 per share versus analysts’ expected loss of $0.81.
- Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $142.44; recent targets range from $133 to $160.
Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) EVP Yann Mazabraud sold 57,000 shares of the firm's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $116.15, for a total value of $6,620,550.00. Following the transaction, the executive vice president directly owned 55,655 shares of the company's stock, valued at $6,464,328.25. This represents a 50.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Rhythm Pharmaceuticals Trading Down 0.5%
Shares of Rhythm Pharmaceuticals stock opened at $115.48 on Friday. The company's 50-day moving average price is $105.44 and its two-hundred day moving average price is $96.45. Rhythm Pharmaceuticals, Inc. has a 52 week low of $74.50 and a 52 week high of $122.20. The stock has a market cap of $7.91 billion, a PE ratio of -37.13 and a beta of 1.92.
Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share for the quarter, beating analysts' consensus estimates of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. The company had revenue of $71.25 million during the quarter, compared to the consensus estimate of $67.66 million. During the same period in the prior year, the company earned ($0.75) EPS. Rhythm Pharmaceuticals's revenue was up 46.9% on a year-over-year basis. On average, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS for the current fiscal year.
Institutional Trading of Rhythm Pharmaceuticals
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Rhythm Pharmaceuticals in the second quarter worth about $683,601,000. Primecap Management Co. CA acquired a new stake in shares of Rhythm Pharmaceuticals during the second quarter valued at approximately $351,838,000. Vanguard Group Inc. lifted its position in shares of Rhythm Pharmaceuticals by 24.3% in the 4th quarter. Vanguard Group Inc. now owns 6,210,916 shares of the company's stock valued at $664,816,000 after acquiring an additional 1,214,489 shares in the last quarter. RA Capital Management L.P. lifted its position in shares of Rhythm Pharmaceuticals by 17.3% in the 4th quarter. RA Capital Management L.P. now owns 6,666,837 shares of the company's stock valued at $713,618,000 after acquiring an additional 985,478 shares in the last quarter. Finally, Jupiter Topco LLC acquired a new position in Rhythm Pharmaceuticals in the 2nd quarter worth approximately $102,752,000.
Analysts Set New Price Targets
Several analysts recently commented on the stock. Royal Bank Of Canada increased their target price on shares of Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Stifel Nicolaus set a $133.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, June 15th. JPMorgan Chase & Co. upped their price target on Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Citizens Jmp increased their price objective on Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 5th. Finally, TD Cowen reissued a "buy" rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Fifteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $142.44.
Read Our Latest Stock Analysis 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.
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