Rhythm Pharmaceuticals, Inc.
- Open
- 107.19
- Day high
- 111.14
- Day low
- 106.98
- Prev close
- 107.55
- Volume
- 80K
- Mkt cap
- $7.6B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 61.8
- P/S
- 35.0
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$4.1M over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
Rhythm Pharmaceuticals, Inc. (RYTM) is a Healthcare company listed on NASDAQ. The stock is up 73% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
Rhythm Pharmaceuticals, Inc. (RYTM) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
RYTM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $-0.86 | $-0.83 | +3.5% | $60M | +7.8% |
| Feb 26, 2026 | $-0.79 | $-0.73 | +7.6% | $57M | +1.9% |
| Feb 26, 2025 | $-0.69 | $-0.72 | -4.3% | $42M | +8.7% |
| Feb 22, 2024 | $-0.70 | $-0.70 | +0.0% | $24M | -4.5% |
| May 2, 2023 | $-0.71 | $-0.92 | -29.6% | $11M | -5.4% |
| Mar 1, 2023 | $-0.82 | $-0.75 | +8.5% | $9M | +21.8% |
| Aug 2, 2022 | $-0.79 | $-0.89 | -12.7% | $9M | +253.4% |
| May 3, 2022 | $-0.98 | $-1.05 | -7.1% | $1M | -34.9% |
| Mar 1, 2022 | $-1.00 | $-0.85 | +15.0% | $2M | +6.7% |
| Nov 2, 2021 | $-0.84 | $-0.70 | +16.7% | $1M | +9.4% |
| Aug 3, 2021 | $-0.75 | $-0.70 | +6.7% | $274000 | +0.0% |
| May 3, 2021 | $-0.23 | $0.90 | +492.2% | $35000 | +0.0% |
RYTM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 24, 2026 | TETRAULT LYNN A.director | Sell | 37,000 | $100.32 |
| Jun 24, 2026 | TETRAULT LYNN A.director | Option | 37,000 | $28.27 |
| May 20, 2026 | Smith Hunter Cofficer: Chief Financial Officer | Option | 3,000 | $17.87 |
| May 19, 2026 | German Christopher Paulofficer: Corporate Controller & CAO | Option | 1,406 | $17.97 |
| May 19, 2026 | German Christopher Paulofficer: Corporate Controller & CAO | Option | 1,349 | $49.23 |
| May 19, 2026 | German Christopher Paulofficer: Corporate Controller & CAO | Sell | 4,643 | $92.21 |
| May 19, 2026 | German Christopher Paulofficer: Corporate Controller & CAO | Option | 1,687 | $56.69 |
| Apr 3, 2026 | Mazabraud Yannofficer: EVP, Head of International | Option | 12,875 | — |
| Apr 3, 2026 | Mazabraud Yannofficer: EVP, Head of International | Option | 10,375 | — |
| Apr 3, 2026 | Mazabraud Yannofficer: EVP, Head of International | Option | 2,500 | — |
| Apr 3, 2026 | Popovits Kimberly Jdirector | Grant | 10,257 | $88.12 |
| Apr 3, 2026 | Popovits Kimberly Jdirector | Grant | 6,808 | — |
| Mar 6, 2026 | German Christopher Paulofficer: Corporate Controller & CAO | Option | 1,500 | $17.97 |
| Mar 6, 2026 | German Christopher Paulofficer: Corporate Controller & CAO | Sell | 5,614 | $89.56 |
| Mar 4, 2026 | Mazabraud Yannofficer: EVP, Head of International | Grant | 35,000 | $94.94 |
Source: RYTM SEC Form 4 filings, latest Jun 24, 2026. For informational purposes only — not investment advice.
See the full RYTM insider & 13F page →Rhythm Pharmaceuticals, Inc. company profile
Overview
Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) is a commercial-stage biopharmaceutical company founded in 2008 and headquartered in Boston, Massachusetts. The company went public in October 2017 and focuses exclusively on developing and commercializing therapeutics for rare genetic diseases of obesity. Rhythm has successfully transitioned from a development-stage company to a commercial enterprise with its flagship product IMCIVREE, which targets specific genetic pathways that control hunger and weight regulation. The company operates in the highly specialized field of rare genetic obesity disorders, serving patients with conditions that were previously considered untreatable.
Business
Rhythm Pharmaceuticals operates in the rare disease biotechnology sector, specifically targeting genetic obesity disorders caused by impairments in the melanocortin-4 receptor (MC4R) pathway. This pathway is a critical part of the brain's hypothalamic system that controls hunger, satiety, and energy expenditure. When genetic mutations disrupt this pathway, patients experience severe, uncontrollable obesity from early childhood. The company's core product is IMCIVREE (setmelanotide), a potent MC4R agonist administered as a daily subcutaneous injection. IMCIVREE works by bypassing genetic defects in the MC4R pathway and directly stimulating the receptor to restore normal hunger and satiety signals. The drug is currently approved for treating several ultra-rare genetic obesity conditions including Bardet-Biedl Syndrome (BBS), POMC deficiency, LEPR deficiency, and Alström syndrome. The company has one primary revenue-generating segment: IMCIVREE product sales, which generated approximately $130 million in 2024. Rhythm is also developing next-generation MC4R agonists including bivamelagon (an oral daily formulation) and RM-718 (a weekly injectable), as well as exploring applications in hypothalamic obesity - a condition affecting patients who develop severe weight gain following brain injury or tumor treatment. The hypothalamic obesity indication represents a significantly larger patient population and could become the company's primary growth driver if clinical trials succeed.
Revenue model
Rhythm generates revenue primarily through direct product sales of IMCIVREE to specialty pharmacies and healthcare institutions. The company employs a rare disease pricing model, with IMCIVREE commanding premium pricing typical of ultra-orphan drugs - generally in the range of several hundred thousand dollars per patient annually. Revenue is split between the United States (approximately 75% of sales) and international markets (25%), with growing presence in European countries including Germany, France, Italy, and Spain. The business model faces several margin-influencing factors. Positive drivers include the lack of competition in genetic obesity treatments, high barriers to entry due to regulatory complexity, and potential for label expansions to new genetic conditions. The company benefits from strong pricing power due to the severe unmet medical need and lack of alternative treatments. Margin pressures come from high manufacturing costs for the complex peptide drug, extensive patient support programs required for rare disease treatments, and significant ongoing R&D investments in pipeline development. Key business risks include dependence on a single commercial product, small addressable patient populations for current indications, potential manufacturing disruptions, and regulatory challenges in international expansion. The company's cash burn remains substantial at over $100 million annually, driven by commercial infrastructure, clinical trial costs, and manufacturing expenses. Success in the larger hypothalamic obesity market could dramatically improve the revenue base and operating leverage.
Competitive moat
Rhythm's competitive moat is moderately strong but narrow, built primarily on regulatory exclusivity and specialized expertise rather than fundamental competitive advantages. The company benefits from orphan drug designations providing 7-10 years of market exclusivity in approved indications, along with patent protection extending into the early 2030s for setmelanotide. The specialized nature of genetic obesity treatment creates high barriers to entry, requiring deep understanding of rare genetic disorders, complex clinical trial designs, and established relationships with specialized treatment centers. However, the moat has notable limitations. The addressable patient populations for current approved indications are extremely small - estimated at only 4,000-5,000 BBS patients globally. The company lacks a platform technology advantage, as setmelanotide is a relatively straightforward MC4R agonist that could potentially be replicated by larger pharmaceutical companies. The specialized sales force and treatment center relationships, while valuable, are not insurmountable barriers for well-resourced competitors. The strength of Rhythm's moat will largely depend on successful expansion into hypothalamic obesity, which represents a much larger patient population of potentially 100,000+ patients globally. Success in this indication would provide greater scale, improved operating leverage, and stronger competitive positioning. Failure to expand beyond the current ultra-rare indications would leave the company vulnerable to competitive threats and limit long-term growth potential.
Risks & safety
Rhythm presents a moderate margin of safety profile with adequate liquidity but ongoing cash burn concerns. • Liquidity position: $106 million cash and short-term investments as of Q1 2025, with management projecting runway into 2027 • Debt levels: Minimal debt with debt-to-equity ratio of 0.025, indicating low financial leverage risk • Cash burn: Negative free cash flow of $40 million in Q1 2025, with annual burn rate exceeding $100 million • Current ratio: Strong at 3.3x, indicating solid short-term liquidity coverage • Valuation metrics: Trading at 20.5x price-to-book ratio, reflecting high market expectations for growth • Revenue growth: Demonstrated commercial traction with 68% revenue growth in 2024 to $130 million • Pipeline risk: Heavy dependence on hypothalamic obesity trial success for future growth, with Phase 3 results expected in Q2 2025 The primary solvency risk stems from continued cash burn without corresponding revenue acceleration, though current cash position provides adequate runway for near-term operations.
Recent development
Over the past few years, Rhythm has executed a strategic transformation from a single-indication rare disease company to a broader genetic obesity platform. The most significant development has been the successful commercial launch of IMCIVREE for BBS patients in 2022, followed by rapid international expansion across 15+ countries. Revenue has grown from $24 million in 2022 to $130 million in 2024, demonstrating strong commercial execution. The company has strategically expanded its pipeline through both internal development and acquisitions. Key developments include the initiation of a Phase 3 trial for hypothalamic obesity, representing a potential 20-fold increase in addressable patient population compared to current indications. Rhythm has also advanced next-generation MC4R agonists including bivamelagon (oral formulation) and RM-718 (weekly injection) to address patient convenience and compliance issues. Recent regulatory achievements include FDA approval for pediatric label expansion (ages 2-6) and ongoing submissions for additional genetic obesity indications. The company has also established strategic partnerships for international expansion, including recent agreements in Turkey and ongoing discussions in Japan and China. Manufacturing capabilities have been scaled to support commercial growth, while maintaining focus on specialized rare disease commercial infrastructure and patient support programs.
RYTM company profile · for informational purposes only — not investment advice.
Track RYTM with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free