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

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

Several other research analysts have also recently weighed in on the company. 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. Oppenheimer reissued an “outperform” rating and set a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Mizuho raised their target price on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Monday, January 13th. Finally, Cantor Fitzgerald upped 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $55.00.

Harmony Biosciences Stock Up 1.3 %

NASDAQ HRMY opened at $39.05 on Thursday. The business has a fifty day moving average price of $34.39 and a 200 day moving average price of $34.84. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The company has a market cap 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 one year low of $28.14 and a one year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. The business had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. Research analysts anticipate that Harmony Biosciences will post 2.42 EPS for the current fiscal year.

Insider Buying and Selling at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total value of $869,943.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 30.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after buying an additional 436 shares during the period. Mendota Financial Group LLC increased its stake in Harmony Biosciences by 24,125.0% during the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after purchasing an additional 965 shares during the period. CWM LLC lifted its position in shares of Harmony Biosciences by 111.7% during the third quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after purchasing an additional 775 shares in the last quarter. Quarry LP acquired a new stake in shares of Harmony Biosciences during the second quarter worth about $62,000. Finally, Quantbot Technologies LP purchased a new position in shares of Harmony Biosciences in the third quarter valued at approximately $74,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.