Jennifer L. Good Sells 31,751 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Jennifer L. Good sold 31,751 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $157,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $52.80 on Friday. The firm has a market capitalization of $3.23 billion, a PE ratio of -11.40 and a beta of 2.07. The company’s fifty day moving average price is $48.13 and its two-hundred day moving average price is $43.15. Rhythm Pharmaceuticals, Inc. has a 52-week low of $20.97 and a 52-week high of $55.64.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.16. The firm had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.79 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The business’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.82) EPS. Analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RYTM has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. HC Wainwright initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday. They set a “buy” rating and a $64.00 target price on the stock. Finally, JMP Securities initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Tuesday. They set an “outperform” rating and a $64.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.88.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Perceptive Advisors LLC lifted its position in Rhythm Pharmaceuticals by 5.4% during the 2nd quarter. Perceptive Advisors LLC now owns 3,446,579 shares of the company’s stock worth $141,517,000 after buying an additional 178,000 shares in the last quarter. Vanguard Group Inc. lifted its position in Rhythm Pharmaceuticals by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company’s stock worth $143,169,000 after buying an additional 77,208 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in Rhythm Pharmaceuticals by 8.3% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock worth $97,366,000 after buying an additional 181,125 shares in the last quarter. Driehaus Capital Management LLC lifted its position in Rhythm Pharmaceuticals by 38.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock worth $48,548,000 after buying an additional 326,865 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Rhythm Pharmaceuticals by 32.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 967,243 shares of the company’s stock worth $39,715,000 after buying an additional 236,600 shares in the last quarter.

Rhythm Pharmaceuticals Company Profile

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.