Rhythm Pharmaceuticals (RYTM) Sets New 1-Year High and Low at $34.33

Shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) reached a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $34.33 and last traded at $32.72, with a volume of 7683 shares changing hands. The stock had previously closed at $32.46.

A number of analysts have issued reports on RYTM shares. BidaskClub downgraded shares of Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, February 4th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, February 26th. Zacks Investment Research downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, April 24th. Finally, ValuEngine raised shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $32.00.

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The firm has a market cap of $841.32 million and a PE ratio of -11.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Monday, May 14th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.15). equities analysts predict that Rhythm Pharmaceuticals will post -1.84 EPS for the current year.

In other news, major shareholder Orbimed Advisors Llc sold 131,636 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $30.88, for a total transaction of $4,064,919.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional investors have recently modified their holdings of the company. Citadel Advisors LLC bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $5,866,000. Opaleye Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $1,113,000. Perceptive Advisors LLC bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $21,654,000. ArrowMark Colorado Holdings LLC bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $13,487,000. Finally, Artal Group S.A. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $1,453,000. 88.24% of the stock is owned by institutional investors.

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 Alstr枚m syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.

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