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Yann Mazabraud, Executive Vice President and Head of International at Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM), a $3.32 billion market cap company with impressive gross profit margins of nearly 90%, recently executed a series of transactions involving the company’s common stock. According to InvestingPro analysis, the company’s stock has shown significant volatility with a beta of 2.3. On March 14, Mazabraud sold a total of 75,000 shares, generating approximately $3.86 million. The shares were sold at prices ranging from $50.31 to $52.04 per share.
In addition to the sales, Mazabraud exercised stock options to acquire 75,000 shares at a price of $22.28 each, amounting to a total acquisition value of approximately $1.67 million. Following these transactions, Mazabraud now holds 40,370 shares of the company’s stock.
These transactions were conducted as part of a pre-arranged trading plan under Rule 10b5-1, which was adopted on December 13, 2024.
In other recent news, Rhythm Pharmaceuticals has garnered attention with several analyst updates and insights. Needham adjusted its price target for Rhythm Pharmaceuticals to $66, maintaining a Buy rating, citing positive anticipation for the Phase 3 trial results of setmelanotide, a treatment for Hypothalamic Obesity (HO). Stifel also reiterated a Buy rating with a $78 target, expressing confidence in the potential success of setmelanotide and highlighting a significant revenue opportunity exceeding $1 billion. Citizens JMP maintained an Outperform rating with an $81 target, emphasizing setmelanotide’s potential in treating HO and its established safety profile. Raymond (NSE:RYMD) James reaffirmed its Outperform rating, setting a price target of $80, and noted the importance of the upcoming Phase III data for setmelanotide in meeting efficacy expectations. These developments reflect a positive outlook from analysts regarding Rhythm Pharmaceuticals’ prospects, particularly with the anticipated Phase 3 trial results for setmelanotide.
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