Rhythm Pharmaceuticals, Inc. Forecasted to Earn Q3 2024 Earnings of ($0.73) Per Share (NASDAQ:RYTM)

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) – Stock analysts at HC Wainwright issued their Q3 2024 earnings per share (EPS) estimates for shares of Rhythm Pharmaceuticals in a note issued to investors on Wednesday, September 18th. HC Wainwright analyst R. Selvaraju forecasts that the company will earn ($0.73) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $64.00 target price on the stock. The consensus estimate for Rhythm Pharmaceuticals’ current full-year earnings is ($4.44) per share. HC Wainwright also issued estimates for Rhythm Pharmaceuticals’ Q4 2024 earnings at ($0.72) EPS, FY2024 earnings at ($4.33) EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.59) EPS, Q3 2025 earnings at ($0.55) EPS, Q4 2025 earnings at ($0.51) EPS and FY2025 earnings at ($2.26) EPS.

Other equities analysts also recently issued reports about the company. JMP Securities initiated coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They set an “outperform” rating and a $64.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.88.

Rhythm Pharmaceuticals Stock Down 3.2 %

NASDAQ RYTM opened at $52.80 on Friday. The stock has a market capitalization of $3.23 billion, a P/E ratio of -11.40 and a beta of 2.07. Rhythm Pharmaceuticals has a 52-week low of $20.97 and a 52-week high of $55.64. The firm has a 50-day moving average price of $48.13 and a 200 day moving average price of $43.17.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its 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 business had revenue of $29.08 million during the quarter, compared to analysts’ expectations of $28.79 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The company’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.82) EPS.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 1,395 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $49.06, for a total value of $68,438.70. Following the completion of the transaction, the insider now owns 31,735 shares in the company, valued at approximately $1,556,919.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Pamela J. Cramer sold 1,395 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $49.06, for a total value of $68,438.70. Following the transaction, the insider now owns 31,735 shares of the company’s stock, valued at approximately $1,556,919.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pamela J. Cramer sold 49,006 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $45.15, for a total transaction of $2,212,620.90. Following the completion of the sale, the insider now owns 13,500 shares in the company, valued at $609,525. The disclosure for this sale can be found here. Insiders sold a total of 127,033 shares of company stock valued at $6,214,392 in the last quarter. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of RYTM. CWM LLC raised its holdings in shares of Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after acquiring an additional 253 shares during the period. ORG Partners LLC bought a new stake in Rhythm Pharmaceuticals in the second quarter worth approximately $51,000. Quest Partners LLC increased its stake in shares of Rhythm Pharmaceuticals by 513.3% during the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after purchasing an additional 1,391 shares during the last quarter. Quarry LP bought a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at $69,000. Finally, ZRC Wealth Management LLC lifted its stake in shares of Rhythm Pharmaceuticals by 392.8% in the 1st quarter. ZRC Wealth Management LLC now owns 1,971 shares of the company’s stock valued at $85,000 after purchasing an additional 1,571 shares during 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.