S&P 500 falls on pressure from retail stocks, weak jobless claims
In a recent transaction filed with the Securities and Exchange Commission, Yann Mazabraud, EVP and Head of International at Rhythm Pharmaceuticals (NASDAQ:RYTM), sold shares worth approximately $1.08 million. The company, currently valued at $3.7 billion, has demonstrated strong market performance with a 20.9% return over the past week and maintains impressive gross profit margins of nearly 90%. According to InvestingPro analysis, the stock is currently trading above its Fair Value. The sales, executed on April 8, 2025, involved a total of 17,750 shares of common stock. The shares were sold at a weighted average price, with the first batch of 8,438 shares sold at prices ranging from $60.00 to $60.91 per share, and the second batch of 9,312 shares sold at prices between $61.04 and $62.00 per share. Following these transactions, Mazabraud holds 22,620 shares in the company. The sales were conducted under a prearranged Rule 10b5-1 trading plan, established in December 2024. With a strong current ratio of 3.24 and an overall GOOD financial health score, InvestingPro subscribers can access 10+ additional exclusive insights and a comprehensive Pro Research Report for deeper analysis of RYTM's financial position.
In other recent news, Rhythm Pharmaceuticals announced positive Phase 3 trial results for its drug setmelanotide, designed to treat acquired hypothalamic obesity (HO). The trial achieved a statistically significant reduction in body mass index (BMI) among participants, which has led multiple analysts to adjust their outlooks on the company. H.C. Wainwright raised its price target to $80, citing increased approval likelihood, while Canaccord Genuity set a new target at $92, reflecting a 100% probability of success in the U.S. and Europe. Oppenheimer reiterated its Outperform rating with a $76 target, projecting peak worldwide sales of over $1.5 billion for setmelanotide. BofA Securities upgraded the stock to Buy with a $63 target, noting the drug's Breakthrough Therapy Designation and anticipated priority review. Stifel maintained a Buy rating and a $78 target, highlighting the trial's exceptional BMI reduction results. Despite these positive developments, analysts suggest a cautious approach due to broader market volatility and recent changes in FDA personnel.
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