Brokerages Expect Rhythm Pharmaceuticals Inc (RYTM) to Post -$0.56 EPS

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Brokerages predict that Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) will announce ($0.56) earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Rhythm Pharmaceuticals’ earnings. The highest EPS estimate is ($0.46) and the lowest is ($0.65). Rhythm Pharmaceuticals reported earnings of ($0.41) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 36.6%. The firm is scheduled to report its next earnings results on Monday, March 11th.

According to Zacks, analysts expect that Rhythm Pharmaceuticals will report full-year earnings of ($2.20) per share for the current fiscal year, with EPS estimates ranging from ($2.29) to ($2.10). For the next fiscal year, analysts anticipate that the firm will post earnings of ($2.56) per share, with EPS estimates ranging from ($3.66) to ($1.93). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Rhythm Pharmaceuticals.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Friday, November 9th. The company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.06).

A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. Stifel Nicolaus restated a “hold” rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, December 13th. BidaskClub raised shares of Rhythm Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 10th. ValuEngine raised shares of Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, October 17th. Finally, Needham & Company LLC set a $42.00 price objective on shares of Rhythm Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, December 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $38.25.

In other news, insider Der Ploeg Leonardus H.T. Van sold 38,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $30.09, for a total value of $1,143,420.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Keith Michael Gottesdiener sold 16,500 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $30.08, for a total value of $496,320.00. The disclosure for this sale can be found here. Insiders have sold 55,362 shares of company stock valued at $1,665,600 over the last ninety days. Insiders own 4.93% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc increased its holdings in shares of Rhythm Pharmaceuticals by 46.6% in the 3rd quarter. Legal & General Group Plc now owns 2,675 shares of the company’s stock valued at $78,000 after purchasing an additional 850 shares during the period. American International Group Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 26.5% in the 3rd quarter. American International Group Inc. now owns 10,098 shares of the company’s stock valued at $295,000 after purchasing an additional 2,114 shares during the period. Bank of America Corp DE increased its holdings in shares of Rhythm Pharmaceuticals by 110.5% in 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. Alliancebernstein L.P. increased its holdings in shares of Rhythm Pharmaceuticals by 74.0% in 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, Credit Suisse AG increased its holdings in Rhythm Pharmaceuticals by 81.3% in the third quarter. Credit Suisse AG now owns 15,950 shares of the company’s stock worth $466,000 after buying an additional 7,154 shares during the last quarter. Institutional investors own 90.42% of the company’s stock.

Shares of NASDAQ RYTM traded up $0.12 during midday trading on Monday, hitting $30.03. The company had a trading volume of 90,078 shares, compared to its average volume of 99,117. Rhythm Pharmaceuticals has a twelve month low of $16.80 and a twelve month high of $37.23. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -10.61 and a beta of 1.85.

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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