Harmony Biosciences (NASDAQ:HRMY) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a research note published on Monday morning,Benzinga reports. HC Wainwright currently has a $75.00 target price on the stock.

Several other research analysts have also issued reports on HRMY. Needham & Company LLC restated a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research report on Monday, January 13th. Raymond James restated an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a report on Thursday, October 10th. Mizuho upped their price target on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Cantor Fitzgerald lifted their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $55.00.

Harmony Biosciences Stock Performance

Harmony Biosciences stock opened at $38.25 on Monday. Harmony Biosciences has a 1 year low of $28.14 and a 1 year high of $41.61. The company’s 50-day moving average is $34.86 and its two-hundred day moving average is $35.12. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The company has a market cap of $2.18 billion, a PE ratio of 18.13, a PEG ratio of 0.51 and a beta of 0.78.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. During the same period in the prior year, the business posted $0.63 earnings per share. Harmony Biosciences’s revenue was up 16.0% compared to the same quarter last year. Equities analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current year.

Insider Buying and Selling at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 10,507 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $37.01, for a total value of $388,864.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandip Kapadia sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total transaction of $1,004,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,923 shares of company stock valued at $2,212,512. 30.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HRMY. Citigroup Inc. boosted its position in Harmony Biosciences by 9.8% during the 3rd quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock worth $7,114,000 after acquiring an additional 15,859 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Harmony Biosciences by 364.0% in the third quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock worth $3,199,000 after purchasing an additional 62,729 shares in the last quarter. Quest Partners LLC boosted its holdings in Harmony Biosciences by 137.6% during the third quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock worth $1,429,000 after purchasing an additional 20,689 shares during the last quarter. JPMorgan Chase & Co. grew its position in Harmony Biosciences by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock valued at $9,217,000 after purchasing an additional 93,622 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Harmony Biosciences by 145.4% in the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after buying an additional 181,092 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.