Ladenburg Thalmann & Co. Thinks Rhythm Pharmaceuticals Inc’s Stock is Going to Recover

By Jason Carr

In a report released today, Michael Higgins from Ladenburg Thalmann & Co. maintained a Buy rating on Rhythm Pharmaceuticals Inc (RYTMResearch Report), with a price target of $43. The company’s shares closed yesterday at $19.89, close to its 52-week low of $19.52.

According to TipRanks.com, Higgins ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -13.5% and a 26.9% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Armata Pharmaceuticals Inc, Achieve Life Sciences Inc, and Melinta Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Rhythm Pharmaceuticals Inc with a $39.75 average price target, which is a 99.8% upside from current levels. In a report released yesterday, Stifel Nicolaus also reiterated a Buy rating on the stock with a $34 price target.

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Based on Rhythm Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $42.8 million. In comparison, last year the company had a GAAP net loss of $14.41 million.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is neutral on the stock.

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Rhythm Pharmaceuticals, Inc. develops and commercializes peptide therapeutics for the treatment of gastrointestinal diseases and genetic deficiencies. It focuses on the treatment for Prader-Willi Syndrome and Pro-Opiomelanocortin deficiency obesity.