Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Posted by on May 18th, 2023

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Rating) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $36.00.

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Rhythm Pharmaceuticals from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, March 2nd. The Goldman Sachs Group raised their price target on Rhythm Pharmaceuticals from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Thursday, March 2nd. Canaccord Genuity Group increased their price objective on shares of Rhythm Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Finally, LADENBURG THALM/SH SH restated a “buy” rating and issued a $35.00 target price on shares of Rhythm Pharmaceuticals in a research report on Thursday, March 2nd.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM opened at $16.47 on Thursday. Rhythm Pharmaceuticals has a 52-week low of $3.04 and a 52-week high of $34.99. The company has a market capitalization of $936.32 million, a P/E ratio of -4.92 and a beta of 1.73. The company has a 50-day simple moving average of $18.42 and a 200 day simple moving average of $24.14.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.21). The firm had revenue of $11.50 million for the quarter, compared to the consensus estimate of $12.12 million. Rhythm Pharmaceuticals had a negative return on equity of 75.16% and a negative net margin of 537.16%. The company’s revenue was up 666.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.05) EPS. As a group, equities analysts forecast that Rhythm Pharmaceuticals will post -3 earnings per share for the current year.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund increased its stake 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 purchasing an additional 758 shares in the last quarter. UBS Group AG increased its position in Rhythm Pharmaceuticals by 1,401.4% in the 2nd quarter. UBS Group AG now owns 7,507 shares of the company’s stock valued at $31,000 after buying an additional 7,007 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in Rhythm Pharmaceuticals during the 1st quarter worth approximately $39,000. Great West Life Assurance Co. Can bought a new position in Rhythm Pharmaceuticals in the third quarter worth approximately $58,000. Finally, State of Wyoming acquired a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at approximately $65,000.

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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Analyst Recommendations for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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