In yesterday’s Wall Street session, Rhythm Pharmaceuticals Inc. (NASDAQ:RYTM) shares traded at $24.32, up 6.90% from the previous session.
9 analysts cover Rhythm Pharmaceuticals Inc. (NASDAQ:RYTM), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $52.00 and a low of $27.00, we find $38.00. Given the previous closing price of $22.75, this indicates a potential upside of 67.03 percent. RYTM stock price is now 40.50% away from the 50-day moving average and 9.06% away from the 200-day moving average. The market capitalization of the company currently stands at $1.35B.
The stock has received a hold rating from 1 analysts and a buy rating from 8. Brokers who have rated the stock have averaged $38.22 as their price target over the next twelve months.
With the price target enhanced from $22 to $27, BofA Securities Upgraded its rating from Neutral to Buy for Rhythm Pharmaceuticals Inc. (NASDAQ: RYTM).
In other news, Cramer Pamela J., Chief Human Resources Officer sold 930 shares of the company’s stock on Jul 26. The stock was sold for $16,405 at an average price of $17.64. Upon completion of the transaction, the Chief Human Resources Officer now directly owns 8,418 shares in the company, valued at $0.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 29, Chief Accounting Officer Roberts William T. sold 912 shares of the business’s stock. A total of $15,960 was realized by selling the stock at an average price of $17.50. This leaves the insider owning 7,872 shares of the company worth $0.19 million. Insiders disposed of 33,748 shares of company stock worth roughly $0.82 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RYTM stock. A new stake in Rhythm Pharmaceuticals Inc. shares was purchased by HRT FINANCIAL LP during the first quarter worth $5,313,000. WEDGE CAPITAL MANAGEMENT L L P/NC invested $5,312,000 in shares of RYTM during the first quarter. In the first quarter, WALLEYE CAPITAL LLC acquired a new stake in Rhythm Pharmaceuticals Inc. valued at approximately $3,351,000. GREAT POINT PARTNERS I LP acquired a new stake in RYTM for approximately $2,372,000. KYNAM CAPITAL MANAGEMENT, LP purchased a new stake in RYTM valued at around $2,252,000 in the second quarter.
On Wednesday morning Rhythm Pharmaceuticals Inc. (NASDAQ: RYTM) stock kicked off with the opening price of $22.50. During the past 12 months, Rhythm Pharmaceuticals Inc. has had a low of $12.59 and a high of $34.99. As of last week, the company has a debt-to-equity ratio of 0.35, a current ratio of 6.90, and a quick ratio of 6.80. The fifty day moving average price for RYTM is $17.46 and a two-hundred day moving average price translates $22.31 for the stock.
The company reported revenue of $19.22 million for the quarter, compared to $9.07 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 112.01 percent.
