Brokerages Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Price Target at $55.00

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been assigned a consensus recommendation of “Buy” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $53.67.

A number of brokerages have recently issued reports on HRMY. Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 target price on the stock. Needham & Company LLC cut their price objective on shares of Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday. HC Wainwright restated a “buy” rating and issued a $75.00 price objective on shares of Harmony Biosciences in a report on Wednesday. Cantor Fitzgerald increased their price objective 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. Finally, Mizuho cut their price objective on shares of Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday.

Harmony Biosciences Price Performance

Shares of HRMY stock opened at $34.89 on Friday. Harmony Biosciences has a 1 year low of $28.14 and a 1 year high of $41.61. The firm’s 50 day moving average is $36.53 and its 200-day moving average is $35.74. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 0.52 and a beta of 0.80. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28.

Insiders Place Their Bets

In other news, CEO Jeffrey M. Dayno sold 19,293 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandip Kapadia sold 1,775 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $38.05, for a total transaction of $67,538.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,452 shares of company stock worth $2,831,679. Company insiders own 30.80% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

Several large investors have recently made changes to their positions in HRMY. CWM LLC grew its position in Harmony Biosciences by 111.7% in the third quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after purchasing an additional 775 shares in the last quarter. Creative Planning bought a new position in Harmony Biosciences in the third quarter valued at $246,000. Hennion & Walsh Asset Management Inc. grew its position in Harmony Biosciences by 20.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 54,274 shares of the company’s stock valued at $2,171,000 after purchasing an additional 9,329 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Harmony Biosciences by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after acquiring an additional 360 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Harmony Biosciences by 8,867.7% in the third quarter. Nisa Investment Advisors LLC now owns 5,560 shares of the company’s stock valued at $222,000 after acquiring an additional 5,498 shares during the last quarter. 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.