BidaskClub Upgrades Rhythm Pharmaceuticals (RYTM) to “Buy”

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BidaskClub upgraded shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a hold rating to a buy rating in a research report report published on Tuesday.

Several other analysts have also recently commented on the company. Zacks Investment Research cut Rhythm Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, June 14th. Needham & Company LLC reaffirmed a buy rating and issued a $32.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, February 26th. Finally, ValuEngine raised Rhythm Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, May 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $34.40.

Shares of Rhythm Pharmaceuticals opened at $31.26 on Tuesday, MarketBeat.com reports. Rhythm Pharmaceuticals has a 12 month low of $16.80 and a 12 month high of $37.23.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Monday, May 14th. The company reported ($0.60) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.15). research analysts anticipate that Rhythm Pharmaceuticals will post -1.66 EPS for the current fiscal year.

In other Rhythm Pharmaceuticals news, major shareholder Orbimed Advisors Llc sold 131,636 shares of the firm’s stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $30.88, for a total transaction of $4,064,919.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.93% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN bought a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $131,000. American International Group Inc. bought a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $161,000. The Manufacturers Life Insurance Company bought a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $184,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $196,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $287,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Rhythm Pharmaceuticals Company Profile

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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