Rhythm Pharmaceuticals Inc (RYTM) Expected to Post Earnings of -$0.46 Per Share

Wall Street analysts predict that Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) will report earnings of ($0.46) per share for the current quarter, according to Zacks. Zero analysts have made estimates for Rhythm Pharmaceuticals’ earnings. The highest EPS estimate is ($0.42) and the lowest is ($0.50). Rhythm Pharmaceuticals posted earnings per share of ($0.41) in the same quarter last year, which indicates a negative year-over-year growth rate of 12.2%. The company is scheduled to issue its next quarterly earnings report on Tuesday, November 13th.

On average, analysts expect that Rhythm Pharmaceuticals will report full-year earnings of ($1.94) per share for the current fiscal year, with EPS estimates ranging from ($2.05) to ($1.86). For the next fiscal year, analysts expect that the company will report earnings of ($2.38) per share, with EPS estimates ranging from ($3.51) to ($1.75). Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Rhythm Pharmaceuticals.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Friday, November 9th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.06).

A number of equities research analysts have weighed in on RYTM shares. BidaskClub downgraded Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Morgan Stanley set a $38.00 price target on Rhythm Pharmaceuticals and gave the company a “buy” rating in a report on Friday, September 7th. ValuEngine raised Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, October 17th. Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a report on Friday, September 14th. They issued a “hold” rating and a $36.00 price target on the stock. Finally, Zacks Investment Research cut Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $38.60.

In other Rhythm Pharmaceuticals news, CEO Keith Michael Gottesdiener sold 16,500 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $30.08, for a total value of $496,320.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Der Ploeg Leonardus H.T. Van sold 38,000 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $30.09, for a total value of $1,143,420.00. The disclosure for this sale can be found here. Insiders sold 86,300 shares of company stock worth $2,587,380 in the last ninety days. 4.93% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. American International Group Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 26.5% in the third quarter. American International Group Inc. now owns 10,098 shares of the company’s stock valued at $295,000 after buying an additional 2,114 shares in the last quarter. Bank of America Corp DE raised its stake in Rhythm Pharmaceuticals by 110.5% during the 2nd quarter. Bank of America Corp DE now owns 6,251 shares of the company’s stock valued at $195,000 after purchasing an additional 3,282 shares during the period. Alps Advisors Inc. raised its stake in Rhythm Pharmaceuticals by 9.2% during the 2nd quarter. Alps Advisors Inc. now owns 39,952 shares of the company’s stock valued at $1,249,000 after purchasing an additional 3,359 shares during the period. Alliancebernstein L.P. raised its stake in Rhythm Pharmaceuticals by 74.0% during the 3rd quarter. Alliancebernstein L.P. now owns 12,700 shares of the company’s stock valued at $370,000 after purchasing an additional 5,400 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in Rhythm Pharmaceuticals by 642.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,735 shares of the company’s stock valued at $273,000 after purchasing an additional 7,559 shares during the period. 87.08% of the stock is currently owned by institutional investors.

RYTM opened at $29.35 on Monday. The company has a market capitalization of $1.03 billion and a price-to-earnings ratio of -10.37. Rhythm Pharmaceuticals has a 1-year low of $16.80 and a 1-year high of $37.23.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of peptide therapeutics for the treatment of rare genetic disorders of obesity in the United States. Its peptide candidates include Setmelanotide, a melanocortin-4 receptor agonist, which is in Phase III clinical trial to treat POMC and leptin receptor deficiency obesity; and Phase II clinical trial for Bardet-Biedl and Alström syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.

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