Rhythm Pharmaceuticals (NASDAQ:RYTM) Receives “Buy” Rating from LADENBURG THALM/SH SH

Posted by on Mar 6th, 2023

LADENBURG THALM/SH SH reiterated their buy rating on shares of Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Rating) in a research report report published on Thursday, Benzinga reports. LADENBURG THALM/SH SH currently has a $35.00 price objective on the stock.

A number of other brokerages also recently weighed in on RYTM. Canaccord Genuity Group reaffirmed a buy rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, January 18th. Morgan Stanley lifted their price target on shares of Rhythm Pharmaceuticals from $16.00 to $26.00 and gave the stock an equal weight rating in a research note on Wednesday, November 9th. Finally, The Goldman Sachs Group lifted their price target on shares of Rhythm Pharmaceuticals from $35.00 to $40.00 and gave the stock a buy rating in a research note on Thursday, January 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus rating of Moderate Buy and a consensus price target of $36.00.

Rhythm Pharmaceuticals Stock Down 10.6 %

Shares of RYTM opened at $21.77 on Thursday. The firm’s 50 day simple moving average is $28.36 and its 200 day simple moving average is $26.11. Rhythm Pharmaceuticals has a 1-year low of $3.04 and a 1-year high of $34.99.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Rating) last announced its earnings results on Wednesday, March 1st. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.07. The business had revenue of $8.80 million for the quarter, compared to the consensus estimate of $7.16 million. Rhythm Pharmaceuticals had a negative net margin of 766.22% and a negative return on equity of 74.17%. Rhythm Pharmaceuticals’s quarterly revenue was up 388.9% on a year-over-year basis. During the same period last year, the firm posted ($0.85) earnings per share. On average, sell-side analysts anticipate that Rhythm Pharmaceuticals will post -2.93 EPS for the current year.

Insider Buying and Selling

In related news, CFO Hunter C. Smith sold 1,398 shares of Rhythm Pharmaceuticals stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $27.66, for a total value of $38,668.68. Following the transaction, the chief financial officer now directly owns 57,779 shares of the company’s stock, valued at $1,598,167.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Hunter C. Smith sold 1,398 shares of Rhythm Pharmaceuticals stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $27.66, for a total value of $38,668.68. Following the transaction, the chief financial officer now directly owns 57,779 shares of the company’s stock, valued at $1,598,167.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jennifer Chien sold 1,192 shares of Rhythm Pharmaceuticals stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $27.66, for a total transaction of $32,970.72. Following the completion of the transaction, the executive vice president now directly owns 3,556 shares in the company, valued at $98,358.96. The disclosure for this sale can be found here. Insiders have sold a total of 6,274 shares of company stock valued at $172,045 over the last three months. 3.80% of the stock is owned by company insiders.

Institutional Trading of Rhythm Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund boosted its holdings in Rhythm Pharmaceuticals by 241.4% in the third quarter. New York State Common Retirement Fund now owns 1,072 shares of the company’s stock valued at $26,000 after acquiring an additional 758 shares in the last quarter. UBS Group AG boosted its holdings in Rhythm Pharmaceuticals by 1,401.4% in the second quarter. UBS Group AG now owns 7,507 shares of the company’s stock valued at $31,000 after acquiring an additional 7,007 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in Rhythm Pharmaceuticals in the first quarter valued at $39,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Rhythm Pharmaceuticals in the second quarter valued at $47,000. Finally, Denali Advisors LLC bought a new stake in Rhythm Pharmaceuticals in the third quarter valued at $47,000.

About Rhythm Pharmaceuticals

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Rhythm Pharmaceuticals, Inc is a biopharmaceutical company, which engages in developing and commercializing peptide therapeutics for the treatment of gastrointestinal diseases and genetic deficiencies. The firm focuses on the treatment for Prader-Willi Syndrome and Pro-Opiomelanocortin deficiency obesity.

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