Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) had its target price increased by equities research analysts at Royal Bank Of Canada from $141.00 to $155.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 41.43% from the stock’s current price.
RYTM has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Friday, July 17th. Wall Street Zen raised shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. TD Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Stifel Nicolaus set a $133.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, June 15th. Finally, Wells Fargo & Company boosted their target price on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Fifteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.62.
Check Out Our Latest Stock Report on RYTM
Rhythm Pharmaceuticals Stock Performance
Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.08. The firm had revenue of $71.25 million for the quarter, compared to analyst estimates of $67.66 million. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The company’s revenue was up 46.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.75) EPS. On average, research analysts anticipate that Rhythm Pharmaceuticals will post -3.08 earnings per share for the current fiscal year.
Insider Buying and Selling at Rhythm Pharmaceuticals
In related news, Director Lynn A. Tetrault sold 37,000 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the completion of the sale, the director directly owned 7,000 shares in the company, valued at $702,240. This represents a 84.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Rhythm Pharmaceuticals by 303.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. SBI Securities Co. Ltd. increased its position in Rhythm Pharmaceuticals by 73.2% during 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 in the last quarter. GAMMA Investing LLC increased its position in Rhythm Pharmaceuticals by 36.3% during the 2nd quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Rhythm Pharmaceuticals by 39.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after purchasing an additional 113 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Rhythm Pharmaceuticals by 328.9% in the 4th quarter. Covestor Ltd now owns 579 shares of the company’s stock valued at $62,000 after purchasing an additional 444 shares during the last quarter.
Trending Headlines about Rhythm Pharmaceuticals
Here are the key news stories impacting Rhythm Pharmaceuticals this week:
- Positive Sentiment: Price target raised: Citizens JMP increased its target for RYTM from $155 to $160 and maintained a “market outperform” rating, implying approximately 47.7% upside from the referenced $108.32 price. The upgrade reinforces confidence in Rhythm’s commercial growth and pipeline. TickerReport analyst price target article
- Positive Sentiment: Quarterly results exceeded expectations: Rhythm reported a second-quarter loss of $0.73 per share, better than the $0.81 consensus estimate, while revenue of approximately $71.3 million surpassed estimates of $67.7 million and increased 46.9% year over year. The results suggest continued momentum for IMCIVREE sales despite the company remaining unprofitable. Rhythm Pharmaceuticals second-quarter results
- Positive Sentiment: IMCIVREE launch and pipeline data provided additional support: The U.S. launch for acquired hypothalamic obesity generated more than 400 patient start forms through June 30. Separately, the experimental weekly injectable RM-718 produced an 11.6% mean BMI reduction after 16 weeks in seven patients, an encouraging early efficacy signal for a rare, difficult-to-treat condition. Reuters RM-718 clinical data article
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.
Read More
- Five stocks we like better than Rhythm Pharmaceuticals
- Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth
- AMD’s Post-Earnings Drop May Be the Opportunity Investors Wanted
- 3 Stocks That Prove the AI Trade Isn’t Over, It Moved
- The FTC Is Suing Hims & Hers Health—Here’s Why Investors Shouldn’t Panic
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.
