Stifel Nicolaus upgraded shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a hold rating to a buy rating in a research report released on Friday morning, Benzinga reports. The firm currently has $34.00 price target on the stock.
A number of other research analysts have also weighed in on RYTM. Zacks Investment Research raised HANNOVER RUECK/S from a sell rating to a hold rating in a report on Friday, May 17th. LADENBURG THALM/SH SH reissued a buy rating and set a $43.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, May 3rd. BidaskClub raised DENTSPLY SIRONA from a buy rating to a strong-buy rating in a report on Thursday, June 13th. ValuEngine lowered Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Finally, Needham & Company LLC reissued a buy rating and set a $42.00 target price on shares of Rhythm Pharmaceuticals in a report on Sunday, May 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $38.67.
Shares of Rhythm Pharmaceuticals stock opened at $20.44 on Friday. Rhythm Pharmaceuticals has a 12-month low of $19.90 and a 12-month high of $34.97. The company has a market cap of $729.27 million, a PE ratio of -8.55 and a beta of 0.80. The company has a current ratio of 18.32, a quick ratio of 18.32 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $22.82.
In other Rhythm Pharmaceuticals news, insider Der Ploeg Leonardus H.T. Van sold 10,000 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $25.21, for a total value of $252,100.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 4.45% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace North America L.P. acquired a new position in Rhythm Pharmaceuticals in the 1st quarter valued at $33,000. Great West Life Assurance Co. Can acquired a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth $68,000. BNP Paribas Arbitrage SA grew its holdings in shares of Rhythm Pharmaceuticals by 105,433.3% during 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 in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Rhythm Pharmaceuticals by 424.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,020 shares of the company’s stock worth $135,000 after purchasing an additional 4,062 shares in the last quarter. Finally, Tiff Advisory Services Inc. acquired a new stake in shares of Rhythm Pharmaceuticals during the 1st quarter worth $217,000. 89.63% of the stock is currently owned by hedge funds and other institutional investors.
About Rhythm Pharmaceuticals
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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