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Rhythm Pharmaceuticals Inc. (NASDAQ: RYTM)’s Stock Is Up 82.66%, A Prediction For What Could Come Next

During the last session, Rhythm Pharmaceuticals Inc. (NASDAQ:RYTM)’s traded shares were 2.65 million, with the beta value of the company hitting 2.46. At the end of the trading day, the stock’s price was $17.53, reflecting an intraday gain of 23.71% or $3.36. The 52-week high for the RYTM share is $17.94, that puts it down -2.34 from that peak though still a striking 82.66% gain since the share price plummeted to a 52-week low of $3.04. The company’s market capitalization is $826.54M, and the average intraday trading volume over the past 10 days was 3.39 million shares, and the average trade volume was 2.29 million shares over the past three months.

Rhythm Pharmaceuticals Inc. (RYTM) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.10. RYTM has a Sell rating from 0 analyst(s) out of 8 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 5 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.95.

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Rhythm Pharmaceuticals Inc. (NASDAQ:RYTM) trade information

Rhythm Pharmaceuticals Inc. (RYTM) registered a 23.71% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 23.71% in intraday trading to $17.53 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 48.69%, and it has moved by 298.41% in 30 days. Based on these gigs, the overall price performance for the year is 5.41%. The short interest in Rhythm Pharmaceuticals Inc. (NASDAQ:RYTM) is 5.94 million shares and it means that shorts have 1.82 day(s) to cover.

The consensus price target of analysts on Wall Street is $23.75, which implies an increase of 26.19% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $6.00 and $40.00 respectively. As a result, RYTM is trading at a discount of -128.18% off the target high and 65.77% off the low.

Rhythm Pharmaceuticals Inc. (RYTM) estimates and forecasts

Statistics show that Rhythm Pharmaceuticals Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Rhythm Pharmaceuticals Inc. (RYTM) shares have gone up 128.85% during the last six months, with a year-to-date growth rate less than the industry average at -166.43% against 1.00. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -35.70% this quarter and then drop -45.70% in the quarter after that. In the rating firms’ projections, revenue will increase 672.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $2.58 million as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $4.78 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $274k and $930k respectively. In this case, analysts expect current quarter sales to grow by 841.60% and then jump by 414.00% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -4.40%. While earnings are projected to return 53.80% in 2022, the next five years will return -9.00% per annum.

RYTM Dividends

Rhythm Pharmaceuticals Inc. is due to release its next quarterly earnings in September. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Rhythm Pharmaceuticals Inc. (NASDAQ:RYTM)’s Major holders

Rhythm Pharmaceuticals Inc. insiders own 0.34% of total outstanding shares while institutional holders control 99.98%, with the float percentage being 100.32%. Primecap Management Company is the largest shareholder of the company, while 180 institutions own stock in it. As of Mar 30, 2022, the company held over 6.29 million shares (or 12.49% of all shares), a total value of $72.48 million in shares.

The next largest institutional holding, with 5.07 million shares, is of Federated Hermes, Inc.’s that is approximately 10.05% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $58.35 million.

Also, the Mutual Funds coming in first place with the largest holdings of Rhythm Pharmaceuticals Inc. (RYTM) shares are Primecap Odyssey Aggressive Growth Fund and Federated Hermes Kaufmann Fund. Data provided on Apr 29, 2022 indicates that Primecap Odyssey Aggressive Growth Fund owns about 4.8 million shares. This amounts to just over 9.53 percent of the company’s overall shares, with a $30.07 million market value. The same data shows that the other fund manager holds slightly less at 3.95 million, or about 7.84% of the stock, which is worth about $24.74 million.

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