Harmony Biosciences’ (HRMY) “Buy” Rating Reiterated at HC Wainwright

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued on Thursday,Benzinga reports. They presently have a $75.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 92.06% from the company’s current price.

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

Harmony Biosciences Price Performance

HRMY stock opened at $39.05 on Thursday. The business’s 50-day moving average is $34.39 and its two-hundred day moving average is $34.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The firm has a market capitalization of $2.23 billion, a P/E ratio of 18.51, a P/E/G ratio of 0.49 and a beta of 0.78. Harmony Biosciences has a 1 year low of $28.14 and a 1 year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results 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 firm had revenue of $186.00 million for the quarter, compared to analysts’ expectations of $184.07 million. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. Analysts anticipate that Harmony Biosciences will post 2.42 earnings per share for the current fiscal year.

Insider Transactions at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 10,507 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total value of $388,864.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 30.80% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

A number of large investors have recently added to or reduced their stakes in HRMY. Janney Montgomery Scott LLC raised its position in Harmony Biosciences by 9.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 17,445 shares of the company’s stock worth $600,000 after acquiring an additional 1,550 shares during the last quarter. SG Americas Securities LLC lifted its stake in Harmony Biosciences by 43.1% in the 4th quarter. SG Americas Securities LLC now owns 22,498 shares of the company’s stock valued at $774,000 after buying an additional 6,774 shares in the last quarter. ARS Investment Partners LLC acquired a new stake in Harmony Biosciences during the 4th quarter valued at $841,000. Avanza Fonder AB purchased a new position in Harmony Biosciences during the fourth quarter worth $145,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Harmony Biosciences by 38.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 75,072 shares of the company’s stock worth $2,583,000 after acquiring an additional 20,798 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

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.