Fintel reports that on September 17, 2024, JMP Securities initiated coverage of Rhythm Pharmaceuticals (NasdaqGM:RYTM) with a Market Outperform recommendation.
Analyst Price Forecast Suggests 22.44% Upside
As of August 26, 2024, the average one-year price target for Rhythm Pharmaceuticals is $60.63/share. The forecasts range from a low of $48.48 to a high of $80.85. The average price target represents an increase of 22.44% from its latest reported closing price of $49.52 / share.
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The projected annual revenue for Rhythm Pharmaceuticals is 144MM, an increase of 41.86%. The projected annual non-GAAP EPS is -1.89.
What is the Fund Sentiment?
There are 367 funds or institutions reporting positions in Rhythm Pharmaceuticals. This is an increase of 12 owner(s) or 3.38% in the last quarter. Average portfolio weight of all funds dedicated to RYTM is 0.29%, an increase of 5.11%. Total shares owned by institutions increased in the last three months by 4.27% to 80,148K shares. 
The put/call ratio of RYTM is 0.36, indicating a bullish outlook.
What are Other Shareholders Doing?
Primecap Management holds 7,312K shares representing 11.96% ownership of the company. In its prior filing, the firm reported owning 7,748K shares , representing a decrease of 5.95%. The firm decreased its portfolio allocation in RYTM by 13.18% over the last quarter.
Baker Bros. Advisors holds 6,398K shares representing 10.47% ownership of the company. No change in the last quarter.
Ra Capital Management holds 6,084K shares representing 9.95% ownership of the company. In its prior filing, the firm reported owning 5,330K shares , representing an increase of 12.39%. The firm increased its portfolio allocation in RYTM by 11.57% over the last quarter.
Goldman Sachs Group holds 5,289K shares representing 8.65% ownership of the company. In its prior filing, the firm reported owning 5,112K shares , representing an increase of 3.35%. The firm decreased its portfolio allocation in RYTM by 6.47% over the last quarter.
POAGX - PRIMECAP Odyssey Aggressive Growth Fund holds 5,164K shares representing 8.45% ownership of the company. In its prior filing, the firm reported owning 5,177K shares , representing a decrease of 0.25%. The firm decreased its portfolio allocation in RYTM by 9.65% over the last quarter.
Rhythm Pharmaceuticals Background Information
(This description is provided by the company.)
Rhythm is a commercial-stage biopharmaceutical company committed to transforming the treatment paradigm for patients living with rare genetic diseases of obesity. Early-onset severe obesity may result from genetic variants within the melanocortin-4 receptor (MC4R) pathway, a key hypothalamic pathway that regulates hunger, caloric intake, and energy expenditure, consequently affecting body weight. Rhythm is developing setmelanotide for the treatment of rare genetic diseases of obesity that arise due to an impaired pathway, as setmelanotide has shown the potential to restore impaired pathway function.
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