Rhythm Pharmaceuticals (RYTM) Downgraded by BidaskClub to “Hold”

Rhythm Pharmaceuticals (NASDAQ:RYTM) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, February 4th.

Several other research firms have also recently weighed in on RYTM. Needham & Company LLC set a $42.00 target price on shares of Rhythm Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, December 14th. Stifel Nicolaus reissued a “hold” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 13th. ValuEngine raised shares of Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 17th. Finally, Zacks Investment Research cut shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, November 15th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $38.25.

RYTM traded up $0.64 during trading on Monday, hitting $29.32. 50,700 shares of the company traded hands, compared to its average volume of 57,488. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -10.36 and a beta of 1.41. Rhythm Pharmaceuticals has a 1 year low of $16.80 and a 1 year high of $37.23.

In other news, CEO Keith Michael Gottesdiener sold 2,449 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $30.04, for a total value of $73,567.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 46,059 shares of company stock valued at $1,383,016 in the last 90 days. Company insiders own 4.93% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its holdings in shares of Rhythm Pharmaceuticals by 33.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,050,838 shares of the company’s stock valued at $88,993,000 after purchasing an additional 759,053 shares in the last quarter. Federated Investors Inc. PA raised its holdings in shares of Rhythm Pharmaceuticals by 216.2% in the 3rd quarter. Federated Investors Inc. PA now owns 790,421 shares of the company’s stock valued at $23,057,000 after purchasing an additional 540,421 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 36.2% in the 4th quarter. BlackRock Inc. now owns 1,554,706 shares of the company’s stock valued at $41,790,000 after purchasing an additional 413,203 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Rhythm Pharmaceuticals by 12.3% in the 3rd quarter. Vanguard Group Inc now owns 1,048,186 shares of the company’s stock valued at $30,575,000 after purchasing an additional 115,177 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,048,186 shares of the company’s stock valued at $30,575,000 after purchasing an additional 115,177 shares in the last quarter. Institutional investors own 92.18% 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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