Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) Expected to Announce Earnings of -$0.81 Per Share

Wall Street analysts forecast that Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) will announce ($0.81) earnings per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Rhythm Pharmaceuticals’ earnings. The highest EPS estimate is ($0.72) and the lowest is ($0.96). Rhythm Pharmaceuticals reported earnings of ($0.52) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 55.8%. The firm is expected to announce its next quarterly earnings report on Wednesday, August 14th.

On average, analysts expect that Rhythm Pharmaceuticals will report full year earnings of ($3.43) per share for the current fiscal year, with EPS estimates ranging from ($3.99) to ($2.86). For the next fiscal year, analysts anticipate that the company will report earnings of ($3.21) per share, with EPS estimates ranging from ($4.11) to ($2.05). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Rhythm Pharmaceuticals.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Friday, May 3rd. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by ($0.08).

Several research firms have issued reports on RYTM. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $43.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, May 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $238.00 price objective (up from $209.00) on shares of Lululemon Athletica in a report on Friday, July 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of Rhythm Pharmaceuticals in a report on Sunday, May 5th. Zacks Investment Research downgraded shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, BidaskClub raised shares of DENTSPLY SIRONA from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $38.67.

In other news, insider Der Ploeg Leonardus H.T. Van sold 15,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $25.42, for a total value of $381,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.45% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. acquired a new stake in shares of Rhythm Pharmaceuticals in the first quarter valued at about $33,000. Great West Life Assurance Co. Can acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at about $68,000. BNP Paribas Arbitrage SA increased its position in Rhythm Pharmaceuticals by 105,433.3% during the first 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. Metropolitan Life Insurance Co. NY increased its position in Rhythm Pharmaceuticals by 424.0% during the fourth 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 during the last quarter. Finally, Tiff Advisory Services Inc. acquired a new stake in Rhythm Pharmaceuticals during the first quarter worth about $217,000. Institutional investors and hedge funds own 89.63% of the company’s stock.

RYTM traded up $0.27 during midday trading on Tuesday, hitting $21.39. 233,271 shares of the company traded hands, compared to its average volume of 245,445. The company has a quick ratio of 18.32, a current ratio of 18.32 and a debt-to-equity ratio of 0.02. Rhythm Pharmaceuticals has a 52-week low of $19.90 and a 52-week high of $34.97. The stock’s 50 day moving average price is $22.46.

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.

Read More: Cost of Goods Sold (COGS)

Get a free copy of the Zacks research report on Rhythm Pharmaceuticals (RYTM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Rhythm Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rhythm Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.