Harmony Biosciences (NASDAQ:HRMY) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $55.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 45.35% from the stock’s previous close.

HRMY has been the topic of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research note on Monday, January 13th. Oppenheimer restated 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. HC Wainwright reiterated a “buy” rating and set a $75.00 target price on shares of Harmony Biosciences in a research report on Monday, January 27th. Finally, Cantor Fitzgerald lifted their price target on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Harmony Biosciences currently has a consensus rating of “Buy” and a consensus price target of $55.00.

Harmony Biosciences Stock Up 0.3 %

Shares of HRMY opened at $37.84 on Tuesday. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $35.89 and a two-hundred day moving average price of $35.56. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 0.51 and a beta of 0.80. Harmony Biosciences has a 12 month low of $28.14 and a 12 month high of $41.61.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, CFO Sandip Kapadia sold 25,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total value of $1,004,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total value of $774,228.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,452 shares of company stock worth $2,831,679. 30.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after buying an additional 436 shares during the last quarter. Mendota Financial Group LLC raised its position in shares of Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after acquiring an additional 965 shares during the last quarter. CWM LLC lifted its stake in shares of Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after purchasing an additional 775 shares during the period. KBC Group NV boosted its position in shares of Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after purchasing an additional 819 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Harmony Biosciences during the third quarter worth $74,000. Institutional investors own 86.23% of the company’s stock.

About Harmony Biosciences

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.