Rhythm Pharmaceuticals (NASDAQ:RYTM) Rating Increased to Hold at BidaskClub

Rhythm Pharmaceuticals (NASDAQ:RYTM) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, March 14th.

RYTM has been the subject of several other reports. Cowen restated a “buy” rating and issued a $40.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 14th. Needham & Company LLC restated a “buy” rating and issued a $32.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, February 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $31.25.

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NASDAQ RYTM traded down $0.73 on Wednesday, reaching $19.46. The company had a trading volume of 87,759 shares, compared to its average volume of 110,922. The company has a market capitalization of $530.95 and a PE ratio of -6.88. Rhythm Pharmaceuticals has a 52 week low of $16.80 and a 52 week high of $33.81.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Monday, March 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.14. equities research analysts predict that Rhythm Pharmaceuticals will post -2.3 EPS for the current year.

Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $131,000. American International Group Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $161,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $184,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $196,000. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $287,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of peptide therapeutics for the treatment of rare genetic deficiencies that result in life-threatening metabolic disorders. The Company’s lead peptide product candidate is setmelanotide, a potent, first-in-class melanocortin-4 receptor, or MC4R, agonist for the treatment of rare genetic disorders of obesity.

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