Rhythm Pharmaceuticals (NASDAQ:RYTM) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a strong sell rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on RYTM. Citigroup reissued an “outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, December 12th. Wall Street Zen lowered shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Royal Bank Of Canada began coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday. They issued an “outperform” rating for the company. Morgan Stanley reiterated an “overweight” rating and set a $150.00 target price on shares of Rhythm Pharmaceuticals in a report on Thursday, December 11th. Finally, Guggenheim increased their price target on shares of Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Rhythm Pharmaceuticals Trading Down 2.7%

RYTM stock opened at $99.74 on Tuesday. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of -32.86 and a beta of 2.00. The firm’s 50-day moving average price is $105.98 and its two-hundred day moving average price is $103.23. Rhythm Pharmaceuticals has a 12-month low of $45.90 and a 12-month high of $122.20.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 3,350 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $111.00, for a total value of $371,850.00. Following the transaction, the insider owned 20,814 shares of the company’s stock, valued at approximately $2,310,354. This represents a 13.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Hunter C. Smith sold 3,381 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $106.06, for a total transaction of $358,588.86. Following the sale, the chief financial officer directly owned 125,537 shares of the company’s stock, valued at $13,314,454.22. The trade was a 2.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 17,049 shares of company stock valued at $1,783,165. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of RYTM. EverSource Wealth Advisors LLC lifted its position in shares of Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Rhythm Pharmaceuticals by 97.2% in the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after acquiring an additional 141 shares during the period. Farther Finance Advisors LLC raised its stake in Rhythm Pharmaceuticals by 1,110.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock valued at $35,000 after purchasing an additional 322 shares during the period. Optiver Holding B.V. lifted its holdings in Rhythm Pharmaceuticals by 65.2% in the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after purchasing an additional 144 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in Rhythm Pharmaceuticals by 73.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 145 shares during the period.

About Rhythm Pharmaceuticals

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.