Rhythm Pharmaceuticals’ (RYTM) “Sell (D-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) in a research report sent to investors on Wednesday,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the stock. Citigroup reaffirmed an “outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, September 25th. Guggenheim upped their target price on shares of Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Canaccord Genuity Group upped their price target on shares of Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Leerink Partners initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, July 7th. They set an “outperform” rating and a $88.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.64.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock opened at $100.82 on Wednesday. The firm’s 50-day moving average is $98.57 and its two-hundred day moving average is $77.39. The company has a market capitalization of $6.70 billion, a PE ratio of -33.50 and a beta of 2.12. Rhythm Pharmaceuticals has a 12 month low of $45.90 and a 12 month high of $106.52.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.09). The company had revenue of $48.50 million during the quarter, compared to analysts’ expectations of $43.72 million. Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. Rhythm Pharmaceuticals’s revenue was up 66.8% on a year-over-year basis. During the same period last year, the firm posted ($0.55) earnings per share. Sell-side analysts forecast that Rhythm Pharmaceuticals will post -4.32 EPS for the current year.

Insider Activity at Rhythm Pharmaceuticals

In related news, CAO Christopher Paul German sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $95.00, for a total value of $142,500.00. Following the transaction, the chief accounting officer owned 922 shares in the company, valued at approximately $87,590. This trade represents a 61.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Pamela J. Cramer sold 1,520 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $85.93, for a total transaction of $130,613.60. Following the completion of the transaction, the insider owned 20,814 shares in the company, valued at $1,788,547.02. The trade was a 6.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,280 shares of company stock valued at $3,755,655 over the last three months. Insiders own 6.10% of the company’s stock.

Institutional Trading of Rhythm Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Rhythm Pharmaceuticals during the first quarter valued at approximately $34,000. Osaic Holdings Inc. boosted its holdings in Rhythm Pharmaceuticals by 65.9% in the second quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock worth $62,000 after purchasing an additional 389 shares during the period. State of Wyoming acquired a new position in Rhythm Pharmaceuticals in the second quarter worth $67,000. GF Fund Management CO. LTD. boosted its holdings in Rhythm Pharmaceuticals by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,573 shares of the company’s stock worth $83,000 after purchasing an additional 283 shares during the period. Finally, CWM LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 92.3% during the first quarter. CWM LLC now owns 2,584 shares of the company’s stock valued at $137,000 after acquiring an additional 1,240 shares during the period.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.