A number of other research firms have also weighed in on RYTM. Stifel Nicolaus reaffirmed a buy rating and set a $34.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, July 29th. LADENBURG THALM/SH SH reaffirmed a buy rating and set a $43.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, September 9th. Zacks Investment Research lowered shares of Rhythm Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, July 17th. Canaccord Genuity started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, July 8th. They set a buy rating and a $35.00 price objective on the stock. Finally, ValuEngine upgraded shares of Rhythm Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $38.80.
RYTM stock traded up $0.19 on Wednesday, hitting $20.87. 100,188 shares of the company were exchanged, compared to its average volume of 206,556. Rhythm Pharmaceuticals has a twelve month low of $18.00 and a twelve month high of $32.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.80 and a quick ratio of 7.80. The business’s fifty day moving average is $22.07 and its two-hundred day moving average is $23.41. The stock has a market capitalization of $677.18 million, a price-to-earnings ratio of -8.73 and a beta of 0.64.
Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. acquired a new position in Rhythm Pharmaceuticals during the 1st quarter valued at about $33,000. Point72 Hong Kong Ltd acquired a new position in shares of Rhythm Pharmaceuticals in the 2nd quarter worth approximately $31,000. Bank of Montreal Can grew its stake in shares of Rhythm Pharmaceuticals by 194,200.0% in the 2nd quarter. Bank of Montreal Can now owns 1,943 shares of the company’s stock worth $43,000 after purchasing an additional 1,942 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Rhythm Pharmaceuticals by 105,433.3% in the 1st 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 last quarter. Finally, Tiff Advisory Services Inc. acquired a new position in shares of Rhythm Pharmaceuticals in the 1st quarter worth approximately $217,000. 90.58% of the stock is currently owned by hedge funds and other institutional investors.
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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