Rhythm Pharmaceuticals (RYTM) Stock Rating Upgraded by BidaskClub
BidaskClub upgraded shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) from a hold rating to a buy rating in a research report released on Thursday.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Rhythm Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, August 15th. Needham & Company LLC set a $42.00 price objective on shares of Rhythm Pharmaceuticals and gave the company a buy rating in a research report on Thursday, August 9th. Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, September 14th. They issued a hold rating and a $36.00 price objective for the company. ValuEngine upgraded shares of Rhythm Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday. Finally, Morgan Stanley assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, September 7th. They set an overweight rating for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Rhythm Pharmaceuticals currently has a consensus rating of Buy and a consensus price target of $37.17.
Shares of RYTM stock traded down $0.29 during trading hours on Thursday, reaching $27.82. The stock had a trading volume of 113,109 shares, compared to its average volume of 276,954. Rhythm Pharmaceuticals has a 12 month low of $16.80 and a 12 month high of $37.23.
In other Rhythm Pharmaceuticals news, insider Der Ploeg Leonardus H.T. Van sold 31,800 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $29.80, for a total transaction of $947,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.93% of the company’s stock.
Several hedge funds have recently bought and sold shares of RYTM. RA Capital Management LLC purchased a new position in shares of Rhythm Pharmaceuticals during the second quarter worth approximately $48,195,000. Janus Henderson Group PLC raised its stake in shares of Rhythm Pharmaceuticals by 109.4% during the second quarter. Janus Henderson Group PLC now owns 2,291,785 shares of the company’s stock worth $71,641,000 after acquiring an additional 1,197,165 shares in the last quarter. Baker BROS. Advisors LP raised its stake in shares of Rhythm Pharmaceuticals by 32.2% during the second quarter. Baker BROS. Advisors LP now owns 2,708,200 shares of the company’s stock worth $84,658,000 after acquiring an additional 659,180 shares in the last quarter. FMR LLC raised its stake in shares of Rhythm Pharmaceuticals by 40.9% during the second quarter. FMR LLC now owns 1,825,634 shares of the company’s stock worth $57,069,000 after acquiring an additional 529,834 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Rhythm Pharmaceuticals by 93.8% in the second quarter. BlackRock Inc. now owns 747,669 shares of the company’s stock worth $23,371,000 after buying an additional 361,867 shares during the period. 90.01% 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 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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