ValuEngine upgraded shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a hold rating to a buy rating in a research report report published on Wednesday.
RYTM has been the subject of several other reports. Needham & Company LLC set a $42.00 price objective on Rhythm Pharmaceuticals and gave the stock a buy rating in a report on Thursday, August 9th. Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a report on Friday, September 14th. They set a hold rating and a $36.00 price objective for the company. BidaskClub lowered Rhythm Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, July 25th. Zacks Investment Research lowered Rhythm Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, August 15th. Finally, Morgan Stanley assumed coverage on Rhythm Pharmaceuticals in a report on Friday, September 7th. They set an overweight rating for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $37.17.
Shares of Rhythm Pharmaceuticals stock traded down $0.05 during midday trading on Wednesday, hitting $28.34. The company’s stock had a trading volume of 1,093 shares, compared to its average volume of 175,125. The stock has a market cap of $996.89 million and a PE ratio of -10.01. Rhythm Pharmaceuticals has a 1-year low of $16.80 and a 1-year high of $37.23.
In related news, insider Der Ploeg Leonardus H.T. Van sold 31,800 shares of the stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $29.80, for a total transaction of $947,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.93% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. PointState Capital LP bought a new position in Rhythm Pharmaceuticals during the second quarter valued at about $2,657,000. Swiss National Bank bought a new position in Rhythm Pharmaceuticals during the second quarter valued at about $894,000. Federated Investors Inc. PA raised its holdings in Rhythm Pharmaceuticals by 66.7% during the second quarter. Federated Investors Inc. PA now owns 250,000 shares of the company’s stock valued at $7,815,000 after buying an additional 100,000 shares in the last quarter. RA Capital Management LLC bought a new position in Rhythm Pharmaceuticals during the second quarter valued at about $48,195,000. Finally, Laurion Capital Management LP bought a new position in Rhythm Pharmaceuticals during the second quarter valued at about $2,632,000. Institutional investors and hedge funds own 90.01% of the company’s stock.
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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