Rhythm Pharmaceuticals (NASDAQ:RYTM) Lifted to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a hold rating to a buy rating in a research note issued to investors on Friday morning, Benzinga reports. Stifel Nicolaus currently has $34.00 target price on the stock.

A number of other equities analysts also recently issued reports on RYTM. ValuEngine downgraded Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. LADENBURG THALM/SH SH restated a buy rating and set a $43.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Friday, May 3rd. Canaccord Genuity restated a buy rating and set a GBX 55 ($0.72) price objective on shares of Attraqt Group in a research report on Monday, July 8th. Needham & Company LLC restated a buy rating and set a $42.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Sunday, May 5th. Finally, BidaskClub upgraded DENTSPLY SIRONA from a buy rating to a strong-buy rating in a research report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $38.67.

Rhythm Pharmaceuticals stock opened at $20.44 on Friday. The company has a quick ratio of 18.32, a current ratio of 18.32 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $729.27 million, a P/E ratio of -8.55 and a beta of 0.80. Rhythm Pharmaceuticals has a 12 month low of $19.90 and a 12 month high of $34.97. The company has a 50-day moving average price of $22.82.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Friday, May 3rd. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.76) by ($0.08). On average, equities research analysts forecast that Rhythm Pharmaceuticals will post -3.39 EPS for the current year.

In related news, insider Der Ploeg Leonardus H.T. Van sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $25.21, for a total transaction of $252,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.45% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new stake in Rhythm Pharmaceuticals during the first quarter worth approximately $33,000. Great West Life Assurance Co. Can acquired a new stake in Rhythm Pharmaceuticals during the fourth quarter worth approximately $68,000. BNP Paribas Arbitrage SA grew its stake in Rhythm Pharmaceuticals by 105,433.3% during the first quarter. BNP Paribas Arbitrage SA now owns 3,166 shares of the company’s stock worth $87,000 after purchasing an additional 3,163 shares during the period. Metropolitan Life Insurance Co. NY grew its stake in Rhythm Pharmaceuticals by 424.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,020 shares of the company’s stock worth $135,000 after purchasing an additional 4,062 shares during the period. Finally, Tiff Advisory Services Inc. acquired a new stake in Rhythm Pharmaceuticals during the first quarter worth approximately $217,000. 89.63% of the stock is owned by institutional investors and hedge funds.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic disorders that result in life-threatening metabolic disorders. The company's lead product candidate is setmelanotide, a melanocortin-4 receptor agonist peptide, which is in Phase III clinical trials to treat pro-opiomelanocortin (POMC) and leptin receptor deficiency obesity, and Bardet-Biedl and Alström syndrome; and is in Phase II clinical trials for treating POMC heterozygous deficiency obesity and POMC epigenetic disorders.

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Analyst Recommendations for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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