Rhythm Pharmaceuticals (NASDAQ:RYTM) Rating Lowered to Strong Sell at BidaskClub

BidaskClub lowered shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a sell rating to a strong sell rating in a research report released on Saturday morning, BidAskClub reports.

Other analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Rhythm Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, August 1st. LADENBURG THALM/SH SH restated a buy rating and set a $43.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, July 30th. Stifel Nicolaus reaffirmed a buy rating and issued a $34.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, July 29th. Canaccord Genuity initiated coverage on Rhythm Pharmaceuticals in a report on Monday, July 8th. They issued a buy rating and a $35.00 target price on the stock. Finally, Zacks Investment Research downgraded Rhythm Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the company. Rhythm Pharmaceuticals has an average rating of Buy and a consensus price target of $38.80.

RYTM stock opened at $21.28 on Friday. Rhythm Pharmaceuticals has a one year low of $18.00 and a one year high of $32.62. The company’s fifty day moving average price is $20.84 and its 200-day moving average price is $24.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.80 and a current ratio of 7.80. The company has a market capitalization of $739.89 million, a PE ratio of -8.90 and a beta of 0.64.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Monday, July 29th. The company reported ($1.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.88) by ($0.36). On average, research analysts predict that Rhythm Pharmaceuticals will post -4.16 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Rhythm Pharmaceuticals by 24.9% during the second quarter. BlackRock Inc. now owns 1,908,058 shares of the company’s stock valued at $41,976,000 after purchasing an additional 380,085 shares in the last quarter. University of Notre Dame DU Lac purchased a new stake in Rhythm Pharmaceuticals during the second quarter valued at approximately $3,051,000. Price T Rowe Associates Inc. MD raised its position in Rhythm Pharmaceuticals by 6.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,072,041 shares of the company’s stock valued at $23,585,000 after purchasing an additional 64,625 shares during the period. Rice Hall James & Associates LLC lifted its stake in shares of Rhythm Pharmaceuticals by 172.5% in the 2nd quarter. Rice Hall James & Associates LLC now owns 63,217 shares of the company’s stock valued at $1,391,000 after purchasing an additional 40,015 shares during the last quarter. Finally, Spark Investment Management LLC bought a new stake in shares of Rhythm Pharmaceuticals in the 1st quarter valued at approximately $1,060,000. 90.58% of the stock is owned by hedge funds and other institutional investors.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic disorders that result in life-threatening metabolic disorders. The company's lead product candidate is setmelanotide, a melanocortin-4 receptor agonist peptide, which is in Phase III clinical trials to treat pro-opiomelanocortin (POMC) and leptin receptor deficiency obesity, and Bardet-Biedl and Alström syndrome; and is in Phase II clinical trials for treating POMC heterozygous deficiency obesity and POMC epigenetic disorders.

Featured Article: How is inflation measured?

Analyst Recommendations for Rhythm Pharmaceuticals (NASDAQ:RYTM)

Receive News & Ratings for Rhythm Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rhythm Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.