Rhythm Pharmaceuticals Inc (RYTM) Receives Consensus Recommendation of “Buy” from Analysts

Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) has received a consensus broker rating score of 1.75 (Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation, one has given a buy recommendation and two have issued a strong buy recommendation on the company.

Analysts have set a 12-month consensus target price of $31.25 for the company and are expecting that the company will post ($0.55) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Rhythm Pharmaceuticals an industry rank of 190 out of 265 based on the ratings given to its competitors.

RYTM has been the subject of a number of research reports. Morgan Stanley initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 30th. They issued an “equal weight” rating and a $23.00 price target for the company. Cowen initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 30th. They issued an “outperform” rating and a $40.00 price target for the company. BidaskClub raised shares of Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, January 29th. Bank of America initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 30th. They issued a “buy” rating and a $30.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $32.00 price target on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 14th.

A hedge fund recently bought a new stake in Rhythm Pharmaceuticals stock. MPM Asset Management LLC acquired a new stake in Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,696,392 shares of the company’s stock, valued at approximately $78,357,000. Rhythm Pharmaceuticals makes up approximately 31.4% of MPM Asset Management LLC’s investment portfolio, making the stock its 2nd largest position. MPM Asset Management LLC owned approximately 9.88% of Rhythm Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds own 0.12% of the company’s stock.

Rhythm Pharmaceuticals (RYTM) opened at $29.54 on Friday. Rhythm Pharmaceuticals has a 12 month low of $21.38 and a 12 month high of $33.81.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, November 14th. The company reported ($1.78) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($1.38). equities analysts anticipate that Rhythm Pharmaceuticals will post -1.63 earnings per share for the current fiscal year.

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About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of peptide therapeutics for the treatment of rare genetic deficiencies that result in life-threatening metabolic disorders. The Company’s lead peptide product candidate is setmelanotide, a potent, first-in-class melanocortin-4 receptor, or MC4R, agonist for the treatment of rare genetic disorders of obesity.

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