Rhythm Pharmaceuticals (NASDAQ:RYTM) was upgraded by equities researchers at Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has a $34.00 price target on the stock. Stifel Nicolaus’ price target points to a potential upside of 60.53% from the stock’s current price.
Several other research analysts also recently weighed in on RYTM. Canaccord Genuity reaffirmed a “buy” rating and set a GBX 55 ($0.72) target price on shares of Attraqt Group in a research note on Monday, July 8th. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Sunday, May 5th. LADENBURG THALM/SH SH reissued a “buy” rating and issued a $43.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Friday, May 3rd. Zacks Investment Research raised HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $38.67.
Shares of RYTM stock opened at $21.18 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 18.32 and a quick ratio of 18.32. The stock’s 50 day simple moving average is $23.11. Rhythm Pharmaceuticals has a 1-year low of $20.52 and a 1-year high of $34.97.
Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Friday, May 3rd. The company reported ($0.84) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by ($0.08). On average, sell-side analysts forecast that Rhythm Pharmaceuticals will post -3.39 earnings per share for the current fiscal year.
In related news, insider Der Ploeg Leonardus H.T. Van sold 10,000 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $25.21, for a total value of $252,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.45% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of RYTM. Marshall Wace North America L.P. purchased a new stake in Rhythm Pharmaceuticals in the 1st quarter valued at $33,000. Great West Life Assurance Co. Can purchased a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at $68,000. BNP Paribas Arbitrage SA grew its holdings in Rhythm Pharmaceuticals by 105,433.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,166 shares of the company’s stock valued at $87,000 after buying an additional 3,163 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in Rhythm Pharmaceuticals by 424.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,020 shares of the company’s stock valued at $135,000 after buying an additional 4,062 shares in the last quarter. Finally, Tiff Advisory Services Inc. purchased a new stake in Rhythm Pharmaceuticals in the 1st quarter valued at $217,000. Institutional investors own 89.63% of the company’s stock.
About Rhythm Pharmaceuticals
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.
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