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Rhythm Pharmaceuticals, Inc. (RYTM) stock

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NASDAQ: RYTM Nasdaq Biotechnology Next results ~November 3, 2026

C+ Fundamentals grade

Rhythm Pharmaceuticals, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$43

Valuation models combined (2)

Base case. Range ~$25–$47. Weighted average of 2 models (growth cash-flow model, forward price-to-sales vs peers), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Rhythm Pharmaceuticals, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 9 selling0 purchases and 50 sales by directors and officers, last 12 monthsInsider trades
  • Funds164 adding, 141 cuttingOf 66 active managers that changed their stake, 31 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Rhythm Pharmaceuticals files

Where Rhythm Pharmaceuticals stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $240m, up 53.5% on a year earlier, slower than the 58.7% growth a quarter earlier. Free-cash-flow margin rose to -43.9% from -68.9% a year earlier. Operating margin widened to -83.6% from -113.5%. The diluted share count is up 8.1% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 6 financial-health checks. Our revenue-to-maturity cash-flow model value is $12.92 a share, against a share price of $93.48.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Rhythm Pharmaceuticals, Inc.'s trailing-twelve-month revenue grew 53.5% year on year, with a free-cash-flow margin of -43.9%.

Current signal Net margin expanding: TTM net margin reached -85.6%, up 31.5pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 53.5% over the last 12 months, against a median of 12.6% for biotechnology companies we cover.
  • Margins widening. Operating margin is up 29.9 points on a year ago.

Things to watch

  • Growth slowing. The growth rate is 5.2 points lower than a quarter earlier.
  • Loss-making. Operating margin is -83.6%: costs exceed revenue.
  • Burning cash. Free cash flow was -43.9% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 36.4% of revenue, against a median of 19.2% for biotechnology companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 8.1% in a year.
  • High sales multiple. The shares trade at 26 times revenue while operating margins remain thin.

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
-$0.73 against an average estimate of -$0.83: beat by 12.4%
Revenue
$71m, up 46.9% on a year earlier
Share reaction
+7.7% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Next report
November 3, 2026; average EPS estimate -$0.74

Rhythm Pharmaceuticals' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.9%
  • 1 week+4.4%
  • 1 month+0.7%
  • This year-12.7%
  • 1 year-17.9%
  • 5 years+575.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$240M
Operating margin
-83.6%
Net margin
-85.6%
EPS (TTM, diluted)
$-3.04

Growth

Revenue growth
+53.5%
Change in growth rate
−5.2 pts
Share count change
+8.1%

Cash

Free cash flow (TTM)
-$105M
FCF margin
-43.9%
Stock pay % of revenue
36.4%

Earnings

Last results
November 3, 2026
Next results (est.)
January 22, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Insider trade
  3. Insider trade
  4. Insider trade
  5. Insider trade
  6. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Rhythm Pharmaceuticals, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Rhythm Pharmaceuticals, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.09 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$47 ~$23–$69 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$25 ~$26–$98 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$3.2 ~$1.9–$4.9 Left out: out of range vs price (0.03x)
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$43 ~$25–$47 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Rhythm Pharmaceuticals, Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 201720182019202020212022202320242025Now
Share price$29.06$26.88$22.96$29.73$9.98$29.12$45.97$55.98$107.04$93.44
Market value$386m$833m$836m$1.3bn$495m$1.5bn$2.7bn$3.4bn$7.0bn$6.3bn
+ Net debt (− = net cash)−$34m−$50m−$62m−$101m−$59m−$55m$46m$21m$54m$40m
Enterprise value$351m$784m$774m$1.2bn$436m$1.5bn$2.7bn$3.4bn$7.0bn$6.3bn
Multiples
Price / sales ————156.9x64.2x34.2x26.2x36.7x26.3x
Price / earnings ——————————
Price / free cash flow ——————————
EV / EBITDA ——————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

25 /100

Weak moat

How hard Rhythm Pharmaceuticals's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -54.5% of total assets over 9 years.

  • Pricing power 20 / 20

    Gross margin has been a median 89.0%, moving by 1.3 percentage points (standard deviation) across 5 years.

  • Durability 10 / 20

    Operating margin has been a median -260.9%; its worst year was -1439.5%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 5 years, at a median -126.2% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 44.2% over five years; stock-based pay has been a median 36.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (30 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, before the open. Analysts expect revenue of $85m and EPS of −$0.74 (range −$0.85 to −$0.66) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$3.04 +2% $315m +66%
Next −$0.63 +79% $565m +79%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −6.6% on 90 days ago. In the last 30 days, 2 analysts raised Rhythm Pharmaceuticals, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Rhythm Pharmaceuticals, Inc., last 90 days
−$4.00 −$3.00 −$2.00 −$1.00 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$3.26 Current fiscal year, 60 days ago: −$3.07 Current fiscal year, 30 days ago: −$3.10 Current fiscal year, 7 days ago: −$3.04 Current fiscal year, Now: −$3.04 −$3.04 Next fiscal year, 90 days ago: −$0.65 Next fiscal year, 60 days ago: −$0.61 Next fiscal year, 30 days ago: −$0.61 Next fiscal year, 7 days ago: −$0.63 Next fiscal year, Now: −$0.63 −$0.63

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$3.26−$0.65
60 days ago −$3.07−$0.61
30 days ago −$3.10−$0.61
7 days ago −$3.04−$0.63
Now −$3.04−$0.63

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.83 −$0.73 +12.4%
Mar 2026 −$0.86 −$0.83 +3.6%
Dec 2025 −$0.78 −$0.73 +6.4%
Sept 2025 −$0.73 −$0.82 −11.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

19 analysts, Oct 2026
Buy1789%
Hold211%
Sell00%

Monthly trend

  1. Oct 2026512219
  2. Sep 2026511218
  3. Aug 2026510217
  4. Jul 202651016

Counts of recommendations published by analysts covering Rhythm Pharmaceuticals, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
16.1%
of tradable shares
Days to cover
13.64
at average volume
Short interest, 1 month
+7%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.7%
of shares
Employees
414
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −17.9%

$113.76 on October 31, 2025 to $93.44

ThenNowEffect
Revenue (last 12 months) $156m $240m +53.5%
P/S multiple 45.4x 26.3x −42.2%
Share count 62m 67m −7.5%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +246.5%

$26.97 on November 3, 2023 to $93.44

ThenNowEffect
Revenue (last 12 months) $44m $240m +448.2%
P/S multiple 34.1x 26.3x −23.0%
Share count 55m 67m −18.0%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
RYTM−66%+192%+58%+22%+91%−13%
Industry peers (median)−35%−57%−18%−29%−5%−27%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
RYTM33%75%50%33%50%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
RYTM−78%−75%−54%−33%−23%−33%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 9, 2017: 92% from January 22, 2021 to May 19, 2022. Getting back needed a 1166% gain, reached on December 12, 2023, 572 days after the low.

Price behaviour

52-week range
$75.82 – $117.62
From 52-week high
−20.6%
vs 50-day average
−3.5%
vs 200-day average
−3.7%
Volatility (1 year)
46%
Beta vs S&P 500
1.03

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 6 down
typical move ±7.2%
After a week
7 up, 4 down
typical move ±8.3%
After a month
8 up, 3 down
typical move ±8.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 +7.7% +1.6% +9.8% +2.6%
May 5, 2026 +12.9% +2.2% +6.7% +2.4%
February 26, 2026 −6.5% −1.0% −7.8% −23.5%
January 9, 2026 +7.6% +0.8% +4.3% +5.6%
November 4, 2025 −12.5% −0.8% −12.2% −7.1%
August 5, 2025 −0.3% +0.3% +6.9% +15.9%
May 7, 2025 −3.2% +1.1% −8.7% +8.6%
February 26, 2025 +3.9% −1.5% +3.8% +4.8%
January 10, 2025 −5.1% −1.4% −5.8% −0.5%
November 5, 2024 +18.2% +3.7% +20.9% +9.1%
August 6, 2024 −1.1% +0.2% +4.4% +9.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Rhythm Pharmaceuticals, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Rhythm Pharmaceuticals, Inc.
$0 $100M $200M $300M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $62M Revenue (TTM), FY23 Q4: $77.4M Revenue (TTM), FY24 Q1: $91.9M Revenue (TTM), FY24 Q2: $101.8M Revenue (TTM), FY24 Q3: $112.5M Revenue (TTM), FY24 Q4: $130.1M Revenue (TTM), FY25 Q1: $136.9M Revenue (TTM), FY25 Q2: $156.3M Revenue (TTM), FY25 Q3: $174.3M Revenue (TTM), FY25 Q4: $189.8M Revenue (TTM), FY26 Q1: $217.2M Revenue (TTM), FY26 Q2: $239.9M $239.9M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $62M
FY23 Q4 $77.4M
FY24 Q1 $91.9M
FY24 Q2 $101.8M
FY24 Q3 $112.5M
FY24 Q4 $130.1M
FY25 Q1 $136.9M
FY25 Q2 $156.3M
FY25 Q3 $174.3M
FY25 Q4 $189.8M
FY26 Q1 $217.2M
FY26 Q2 $239.9M
Revenue growth, TTM YoY Rhythm Pharmaceuticals, Inc.
0% 100% 200% 300% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 271.9% Revenue growth, TTM YoY, FY23 Q4: 227.6% Revenue growth, TTM YoY, FY24 Q1: 173.5% Revenue growth, TTM YoY, FY24 Q2: 132.6% Revenue growth, TTM YoY, FY24 Q3: 81.5% Revenue growth, TTM YoY, FY24 Q4: 68.1% Revenue growth, TTM YoY, FY25 Q1: 48.9% Revenue growth, TTM YoY, FY25 Q2: 53.5% Revenue growth, TTM YoY, FY25 Q3: 54.9% Revenue growth, TTM YoY, FY25 Q4: 45.8% Revenue growth, TTM YoY, FY26 Q1: 58.7% Revenue growth, TTM YoY, FY26 Q2: 53.5% 53.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 271.9%
FY23 Q4 227.6%
FY24 Q1 173.5%
FY24 Q2 132.6%
FY24 Q3 81.5%
FY24 Q4 68.1%
FY25 Q1 48.9%
FY25 Q2 53.5%
FY25 Q3 54.9%
FY25 Q4 45.8%
FY26 Q1 58.7%
FY26 Q2 53.5%
Operating margin (TTM) Rhythm Pharmaceuticals, Inc.
-300% -200% -100% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -298.8% Operating margin (TTM), FY23 Q4: -238.1% Operating margin (TTM), FY24 Q1: -295.6% Operating margin (TTM), FY24 Q2: -260.9% Operating margin (TTM), FY24 Q3: -236.0% Operating margin (TTM), FY24 Q4: -204.0% Operating margin (TTM), FY25 Q1: -126.1% Operating margin (TTM), FY25 Q2: -113.5% Operating margin (TTM), FY25 Q3: -106.8% Operating margin (TTM), FY25 Q4: -101.2% Operating margin (TTM), FY26 Q1: -90.9% Operating margin (TTM), FY26 Q2: -83.6% -83.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -298.8%
FY23 Q4 -238.1%
FY24 Q1 -295.6%
FY24 Q2 -260.9%
FY24 Q3 -236.0%
FY24 Q4 -204.0%
FY25 Q1 -126.1%
FY25 Q2 -113.5%
FY25 Q3 -106.8%
FY25 Q4 -101.2%
FY26 Q1 -90.9%
FY26 Q2 -83.6%
FCF margin (TTM) Rhythm Pharmaceuticals, Inc.
-300% -200% -100% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -227.2% FCF margin (TTM), FY23 Q4: -175.9% FCF margin (TTM), FY24 Q1: -152.8% FCF margin (TTM), FY24 Q2: -126.2% FCF margin (TTM), FY24 Q3: -110.6% FCF margin (TTM), FY24 Q4: -87.5% FCF margin (TTM), FY25 Q1: -82.9% FCF margin (TTM), FY25 Q2: -68.9% FCF margin (TTM), FY25 Q3: -62.6% FCF margin (TTM), FY25 Q4: -61.0% FCF margin (TTM), FY26 Q1: -55.0% FCF margin (TTM), FY26 Q2: -43.9% -43.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -227.2%
FY23 Q4 -175.9%
FY24 Q1 -152.8%
FY24 Q2 -126.2%
FY24 Q3 -110.6%
FY24 Q4 -87.5%
FY25 Q1 -82.9%
FY25 Q2 -68.9%
FY25 Q3 -62.6%
FY25 Q4 -61.0%
FY26 Q1 -55.0%
FY26 Q2 -43.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 0 0 0 0 3 24 77 130 190 240
Gross profit — — — — — 3 22 68 117 170 214
EBITDA −26 −32 −78 −145 −136 −169 −178 −183 −265 −192 —
Operating income −26 −32 −78 −146 −137 −170 −179 −184 −266 −192 −201
Net income −29 −34 −74 −141 −134 −70 −181 −185 −261 −197 −205
Diluted EPS −$2.85 −$2.83 −$2.39 −$3.86 −$3.04 −$1.40 −$3.47 −$3.20 −$4.34 −$3.11 −$3.04
Growth (year on year)
Revenue — — — — — — +649.5% +227.6% +68.1% +45.8% +53.5%
Margins
Gross margin — — — — — 81.0% 91.0% 88.0% 89.7% 89.7% 89.0%
EBITDA margin — — — — — <−999% −754.1% −236.9% −203.5% −100.9% —
Operating margin — — — — — <−999% −757.9% −238.1% −204.0% −101.2% −83.6%
Net margin — — — — — <−999% −766.2% −238.5% −200.3% −103.6% −85.6%
Free-cash-flow margin — — — — — <−999% −734.9% −175.9% −87.5% −61.5% −43.9%
Cash flow
Cash from operations −23 −29 −62 −123 −122 −146 −173 −136 −114 −116 −105
Capital spending 1 0 1 3 0 0 0 0 0 1 0
Free cash flow −24 −30 −63 −126 −122 −146 −174 −136 −114 −117 −105
Stock-based pay 1 2 6 12 17 21 20 33 40 67 87
Free cash flow after stock pay −25 −32 −69 −138 −140 −167 −194 −169 −154 −183 −193
Balance sheet
Cash 7 34 50 62 101 59 128 60 89 54 66
Total debt 0 0 0 0 0 0 73 106 110 108 106
Net debt (negative = net cash) −7 −34 −50 −62 −101 −59 −55 46 21 54 40
Diluted shares 10m 13m 31m 36m 44m 50m 52m 58m 61m 65m 67m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · June 30, 2026
What it owns · $437m
Short-term assets $427mLonger-term assets $11m
What it owes, and who funded it · $323m
Short-term liabilities $124mLonger-term liabilities $96mShareholders' equity $103m
  • Short-term assets cover short-term liabilities $427m of assets due within a year against $124m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $427m short-term assets against $96m of longer-dated liabilities.
  • More cash than debt $66m of cash against $106m of debt.
  • Debt below 40% of shareholders' equity Debt is 103% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$105m of operating cash flow against $106m of debt.
  • Operating profit covers interest at least five times over Operating income of −$201m against $18m of interest.

From Rhythm Pharmaceuticals, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+8.1%
year over year
R&D spending
72.2%
of revenue
Sales & admin spending
100.4%
of revenue
Days sales outstanding
61 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated RYTM ANAB IDYA PBYI LGND AKBA Median
Revenue, last 12 months $240m $238m $234m $231m $254m $219m $56m
Revenue growth, last 12 months 53.5% 92.9% −70.1% −2.9% 1.0% 7.5% 12.6%
Revenue growth, 3-year average 76.3% 163.9% 94.0% 0.2% 18.2% 2.9% 13.7%
Revenue growth, latest quarter 46.9% 23.5% 55.4% 7.8% −31.8% −21.4% 10.2%
Gross margin 89.0% — — 74.8% 91.9% 79.6% 82.9%
Operating margin −83.6% 131.7% −92.7% 13.2% 10.1% −6.9% −189.4%
Operating margin, 3-year average −152.7% −108.0% −425.5% 13.7% 2.2% −8.9% −363.5%
Net margin −85.6% 82.4% −74.8% 11.6% 20.3% −13.5% −169.8%
Cash from operations / revenue −43.9% 7.6% −47.7% 17.8% 35.9% 19.0% −168.0%
Free-cash-flow margin −43.9% 1.9% −48.6% 17.8% 35.7% 18.4% −162.4%
Free-cash-flow margin, 3-year average −79.7% −226.6% −375.3% 17.2% 32.4% −1.7% −310.0%
Stock pay / revenue 36.4% −2.7% 23.6% 3.1% 22.3% 6.1% 20.0%
Change in share count 8.1% −2.5% 2.1% 3.0% 6.1% 11.8% 8.2%

Median of all 184 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth 53.5% 12.6% 53 of 172
Change in growth rate Growth -5.2pp -0.1pp 105 of 172
Gross margin Profitability 89.0% 82.4% 25 of 75
Operating margin Profitability -83.6% -189.4% 72 of 175
Net margin Profitability -85.6% -157.3% 78 of 180
Free-cash-flow margin Cash generation -43.9% -145.4% 64 of 176
Stock pay as % of revenue Cash generation 36.4% 19.2% 106 of 179
Long-term debt as % of assets Balance sheet 21.4% 20.6% 42 of 78
Change in share count Balance sheet 8.1% 7.9% 81 of 156
Days sales outstanding Balance sheet 61 days 75 days 44 of 100

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $195M 102.6% ▲ 49.7%
Licenses -$5M -2.6% —

From Rhythm Pharmaceuticals, Inc.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$8.6B
Institutions reporting
302
Shares held vs prior quarter
▲ 5.2%
Positions opened / closed
59 / 40

Top buyers and sellers, Q2 2026: 164 institutions bought and 141 sold ; the biggest buyer was Jpmorgan Chase & Co (+1.1M shares) and the biggest seller FMR LLC (−664K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
RA Capital Management, L.P. $740M 6.7M 8.6% 0.0%
Blackrock, Inc. $684M 6.2M 8.0% ▼ 1.3%
Baker Bros. Advisors LP $622M 5.6M 7.3% 0.0%
Primecap Management Co $352M 3.2M 4.1% ▼ 7.3%
Vanguard Portfolio Management LLC $348M 3.1M 4.1% ▲ 3.2%
Vanguard Capital Management LLC $334M 3.0M 3.9% ▲ 1.3%
Jpmorgan Chase & Co $292M 2.7M 3.4% ▲ 70.7%
Perceptive Advisors LLC $287M 2.6M 3.4% ▲ 9.0%
State Street Corp $286M 2.6M 3.3% ▲ 13.3%
Price T Rowe Associates Inc $285M 2.6M 3.3% ▲ 55.1%
Westfield Capital Management Co LP $245M 2.2M 2.9% ▲ 14.5%
Goldman Sachs Group Inc $236M 2.1M 2.8% ▲ 8.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Rhythm Pharmaceuticals, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $38.6M 50 trades by 9 insiders · 98% under pre-set plans
Net ▼ $38.6M net selling
Insider Date Trade Shares Price Value
Meeker David P President and CEO September 14, 2026 Sell pre-set plan 1,817 $104.55 $189,967
Meeker David P President and CEO September 14, 2026 Sell pre-set plan 8,698 $103.43 $899,634
Meeker David P President and CEO September 14, 2026 Sell pre-set plan 30,746 $102.35 $3.1M
Meeker David P President and CEO September 14, 2026 Sell pre-set plan 6,439 $101.75 $655,168
Meeker David P President and CEO September 14, 2026 Sell pre-set plan 2,300 $105.19 $241,937
Smith Hunter C Chief Financial Officer August 31, 2026 Sell pre-set plan 28,188 $106.20 $3M
Smith Hunter C Chief Financial Officer August 31, 2026 Sell pre-set plan 23,072 $104.59 $2.4M
Smith Hunter C Chief Financial Officer August 31, 2026 Sell pre-set plan 11,514 $105.37 $1.2M
Lee Jennifer Kayden EVP, Head of North America August 13, 2026 Sell pre-set plan 75,834 $117.38 $8.9M
Garfield Alastair Chief Scientific Officer August 13, 2026 Sell pre-set plan 3,400 $118.28 $402,152
Garfield Alastair Chief Scientific Officer August 13, 2026 Sell pre-set plan 2,007 $116.11 $233,033
Garfield Alastair Chief Scientific Officer August 13, 2026 Sell pre-set plan 800 $119.17 $95,336

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 22, 2027 estimated from the company's past filing pattern, not announced

  • November 3, 2026
  • August 4, 2026
  • May 5, 2026
  • February 26, 2026
  • January 9, 2026
  • November 4, 2025

Recent SEC filings

Data status

When each part of this page on Rhythm Pharmaceuticals, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Rhythm Pharmaceuticals, Inc. in brief

What does Rhythm Pharmaceuticals, Inc. do?
Rhythm Pharmaceuticals, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Rhythm Pharmaceuticals, Inc.'s stock ticker?
Rhythm Pharmaceuticals, Inc. trades under the ticker RYTM on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Rhythm Pharmaceuticals, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Rhythm Pharmaceuticals, Inc. reported revenue of $240M, 53.5% higher than a year earlier, according to its SEC filings.
What is Rhythm Pharmaceuticals, Inc.'s free cash flow?
Rhythm Pharmaceuticals, Inc.'s free-cash-flow margin is -43.9% of revenue over the trailing twelve months, ranking 64 of the 176 biotechnology companies we cover.
Who are Rhythm Pharmaceuticals, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are RA Capital Management, L.P., Blackrock, Inc. and Baker Bros. Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Rhythm Pharmaceuticals, Inc.'s market cap?
On November 2, 2026, Rhythm Pharmaceuticals, Inc.'s market capitalisation was about $6.3B and net debt of $40.5M. Market figures come from third-party market data and may be delayed.
How much debt does Rhythm Pharmaceuticals, Inc. have?
Rhythm Pharmaceuticals, Inc.'s debt-to-equity ratio is 103.0%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Rhythm Pharmaceuticals, Inc.'s competitors?
In our Biotechnology peer group, the companies closest to Rhythm Pharmaceuticals, Inc. are Anaptysbio, Inc, Ideaya Biosciences, Inc., Puma Biotechnology, Inc., Ligand Pharmaceuticals Inc and Akebia Therapeutics, Inc. The side-by-side comparison below sets their revenue, margins and growth against Rhythm Pharmaceuticals, Inc.'s.
Are insiders buying or selling Rhythm Pharmaceuticals, Inc. stock?
Over the last 12 months, Rhythm Pharmaceuticals, Inc.'s directors and officers reported 0 open-market purchases and 50 sales on Form 4. The insider trading page charts every trade.
When is Rhythm Pharmaceuticals, Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Rhythm Pharmaceuticals, Inc. announces its own schedule.