Mizuho Issues Pessimistic Forecast for Harmony Biosciences (NASDAQ:HRMY) Stock Price

Harmony Biosciences (NASDAQ:HRMY) had its target price cut by Mizuho from $52.00 to $42.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective for the company. Cantor Fitzgerald upped their price target on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set 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 lowered their price objective on Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $75.00 target price on shares of Harmony Biosciences in a research note on Wednesday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $53.67.

Harmony Biosciences Trading Down 1.2 %

Shares of HRMY opened at $34.89 on Thursday. Harmony Biosciences has a 52-week low of $28.14 and a 52-week high of $41.61. The stock has a market cap of $1.99 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.52 and a beta of 0.80. The firm’s fifty day moving average is $36.53 and its two-hundred day moving average is $35.74. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28.

Insider Activity

In other Harmony Biosciences news, insider Jeffrey Dierks sold 10,507 shares of the company’s stock in a transaction dated 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 is accessible through this hyperlink. Also, CEO Jeffrey M. Dayno sold 19,293 shares of Harmony Biosciences stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The disclosure for this sale can be found here. Insiders have sold a total of 72,452 shares of company stock valued at $2,831,679 in the last quarter. Insiders own 30.80% of the company’s stock.

Institutional Trading of Harmony Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HRMY. GAMMA Investing LLC boosted its position 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 period. Mendota Financial Group LLC boosted its holdings in 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 period. GF Fund Management CO. LTD. purchased a new position in Harmony Biosciences during the 4th quarter valued at about $41,000. CWM LLC grew its position in 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 acquiring an additional 775 shares in the last quarter. Finally, KBC Group NV increased its stake in Harmony Biosciences by 79.9% during the fourth 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 period. Hedge funds and other 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.