Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Free Report) Director Lynn A. Tetrault sold 4,300 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $50.01, for a total transaction of $215,043.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $150,030. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Rhythm Pharmaceuticals Stock Down 2.2 %
Shares of RYTM traded down $1.04 during trading hours on Wednesday, hitting $46.39. The company had a trading volume of 245,168 shares, compared to its average volume of 564,978. Rhythm Pharmaceuticals, Inc. has a 52-week low of $20.97 and a 52-week high of $53.92. The stock’s 50 day moving average price is $45.73 and its 200 day moving average price is $42.80. The firm has a market cap of $2.83 billion, a P/E ratio of -10.10 and a beta of 2.04.
Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.16. The business had revenue of $29.08 million for the quarter, compared to analysts’ expectations of $28.79 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The business’s quarterly revenue was up 51.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.82) EPS. On average, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.4 EPS for the current fiscal year.
Institutional Investors Weigh In On Rhythm Pharmaceuticals
Analyst Upgrades and Downgrades
RYTM has been the topic of a number of research analyst reports. Bank of America cut Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the company from $49.00 to $42.00 in a research note on Wednesday, May 8th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. Finally, Canaccord Genuity Group dropped their target price on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $55.83.
Get Our Latest Analysis on RYTM
About Rhythm Pharmaceuticals
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.
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