Rhythm Pharmaceuticals (NASDAQ:RYTM) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Rhythm Pharmaceuticals (NASDAQ:RYTM) released its quarterly earnings data on Wednesday. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03), Zacks reports. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%.

Rhythm Pharmaceuticals Stock Up 4.0 %

RYTM stock traded up $2.07 during midday trading on Wednesday, reaching $53.10. The company had a trading volume of 234,790 shares, compared to its average volume of 483,094. The firm has a market capitalization of $3.26 billion, a PE ratio of -12.24 and a beta of 2.14. Rhythm Pharmaceuticals has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The stock has a 50 day moving average price of $56.99 and a 200 day moving average price of $54.22.

Insider Activity

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,281 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the transaction, the insider now owns 2,657 shares of the company’s stock, valued at approximately $157,905.51. This represents a 32.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $36,334.70. Following the sale, the chief accounting officer now owns 2,070 shares in the company, valued at approximately $118,445.40. The trade was a 23.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,787 shares of company stock valued at $1,901,443. 5.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RYTM has been the topic of several research analyst reports. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $64.00 price target on shares of Rhythm Pharmaceuticals in a research note on Wednesday, February 19th. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, The Goldman Sachs Group boosted their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.09.

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.