Rhythm Pharmaceuticals (NASDAQ:RYTM) Issues Earnings Results, Beats Expectations By $0.07 EPS

Rhythm Pharmaceuticals (NASDAQ:RYTM) announced its quarterly earnings results on Tuesday. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.07, Briefing.com reports. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The business had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same quarter in the prior year, the company posted ($0.76) EPS. The firm’s revenue for the quarter was up 47.6% compared to the same quarter last year.

Rhythm Pharmaceuticals Trading Up 1.6 %

Rhythm Pharmaceuticals stock traded up $1.03 during mid-day trading on Thursday, hitting $63.68. The company had a trading volume of 70,043 shares, compared to its average volume of 536,699. The stock’s 50 day moving average price is $50.25 and its two-hundred day moving average price is $45.46. The company has a market capitalization of $3.89 billion, a PE ratio of -14.37 and a beta of 2.09. Rhythm Pharmaceuticals has a 12 month low of $26.55 and a 12 month high of $64.73.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 49,006 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were 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 directly owns 13,500 shares in the company, valued at approximately $609,525. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jennifer L. Good sold 31,751 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the sale, the director now owns 3,000 shares of the company’s stock, valued at $157,200. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pamela J. Cramer sold 49,006 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $45.15, for a total transaction of $2,212,620.90. Following the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at $609,525. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,857 shares of company stock worth $5,325,446 in the last quarter. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RYTM shares. JMP Securities initiated coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 target price on the stock. Guggenheim started coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They set a “buy” rating and a $70.00 target price on the stock. Needham & Company LLC raised their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America upped their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Canaccord Genuity Group boosted their price target on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $62.30.

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.