Harmony Biosciences (NASDAQ:HRMY) Stock Keeps “Buy” Rating at HC Wainwright

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They currently have a $55.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 43.87% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Harmony Biosciences in a research note on Monday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $42.00 price objective on shares of Harmony Biosciences in a research note on Thursday, October 1st. Wall Street Zen upgraded Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Truist Financial lifted their target price on Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $37.00 target price on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $47.44.

Harmony Biosciences Price Performance

Shares of HRMY opened at $38.23 on Tuesday. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. Harmony Biosciences has a twelve month low of $25.52 and a twelve month high of $43.49. The stock has a market capitalization of $2.23 billion, a P/E ratio of 12.41, a P/E/G ratio of 0.32 and a beta of 1.01. The company has a 50 day moving average of $40.13 and a 200-day moving average of $35.12.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The business had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, equities research analysts forecast that Harmony Biosciences will post 3.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Kumar Budur sold 35,852 shares of the company’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $43.05, for a total transaction of $1,543,428.60. Following the sale, the insider directly owned 13,115 shares of the company’s stock, valued at approximately $564,600.75. This represents a 73.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 72,406 shares of company stock worth $3,108,520 in the last 90 days. 11.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Harmony Biosciences by 166.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock valued at $32,000 after purchasing an additional 510 shares during the period. Nykredit A S bought a new position in Harmony Biosciences during the second quarter worth about $33,000. Integrated Wealth Concepts LLC bought a new position in Harmony Biosciences during the second quarter worth about $65,000. Allworth Financial LP acquired a new position in Harmony Biosciences during the second quarter worth approximately $71,000. Finally, State of Wyoming acquired a new position in Harmony Biosciences during the second quarter worth approximately $83,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Harmony Biosciences

Here are the key news stories impacting Harmony Biosciences this week:

• Positive Sentiment: HC Wainwright reaffirmed its Buy rating and set a $55 price target, implying substantial upside from the stock’s current level. HC Wainwright reaffirms Buy rating and $55 price target
• Positive Sentiment: Needham & Company also reaffirmed its Buy rating and established a $50 price target, signaling continued analyst confidence in Harmony’s growth outlook. Harmony Biosciences earns Buy rating from Needham
• Neutral Sentiment: Harmony announced that COO Peter Anastasiou will become president and CEO as part of a planned transition intended to support the company’s next phase of growth. The appointment provides continuity from an existing executive, but investors may remain cautious while evaluating the strategic implications of the change. Harmony promotes COO Peter Anastasiou to President and CEO

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial-stage pharmaceutical company focused on developing and marketing therapies for patients with rare neurological disorders. The company’s activities center on conditions that are often underserved by conventional treatment options, including sleep disorders and other central nervous system diseases.

Harmony’s principal product is WAKIX (pitolisant), an oral, non-scheduled medication that acts as a histamine-3 receptor antagonist/inverse agonist.