Q3 2024 Earnings Forecast for Rhythm Pharmaceuticals, Inc. Issued By HC Wainwright (NASDAQ:RYTM)

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) – Equities researchers at HC Wainwright decreased their Q3 2024 EPS estimates for Rhythm Pharmaceuticals in a research report issued to clients and investors on Monday, October 7th. HC Wainwright analyst R. Selvaraju now expects that the company will earn ($0.77) per share for the quarter, down from their previous estimate of ($0.73). HC Wainwright has a “Buy” rating and a $64.00 price target on the stock. The consensus estimate for Rhythm Pharmaceuticals’ current full-year earnings is ($4.43) per share. HC Wainwright also issued estimates for Rhythm Pharmaceuticals’ Q4 2024 earnings at ($0.78) EPS, FY2024 earnings at ($4.42) EPS, Q1 2025 earnings at ($0.73) EPS, Q2 2025 earnings at ($0.66) EPS, Q3 2025 earnings at ($0.62) EPS, Q4 2025 earnings at ($0.55) EPS and FY2025 earnings at ($2.56) EPS.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, topping 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 firm’s revenue was up 51.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.82) earnings per share.

RYTM has been the subject of a number of other research reports. JMP Securities started coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $57.88.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock opened at $47.97 on Wednesday. The stock has a market cap of $2.93 billion, a P/E ratio of -10.36 and a beta of 2.07. The company has a fifty day moving average price of $48.25 and a two-hundred day moving average price of $44.08. Rhythm Pharmaceuticals has a one year low of $21.34 and a one year high of $55.64.

Insider Activity

In other news, Director Lynn A. Tetrault sold 4,300 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $50.01, for a total value of $215,043.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $150,030. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Pamela J. Cramer sold 1,395 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $49.06, for a total transaction of $68,438.70. Following the transaction, the insider now directly owns 31,735 shares of the company’s stock, valued at approximately $1,556,919.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynn A. Tetrault sold 4,300 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $50.01, for a total transaction of $215,043.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $150,030. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,720 shares of company stock valued at $5,948,689 over the last ninety days. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. CWM LLC increased its position in Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after acquiring an additional 253 shares during the period. ORG Partners LLC bought a new position in Rhythm Pharmaceuticals during the second quarter worth about $51,000. Quarry LP bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $69,000. Quest Partners LLC increased its holdings in Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after buying an additional 1,391 shares during the period. Finally, ZRC Wealth Management LLC increased its holdings in 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 buying an additional 1,571 shares during the period.

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.