Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives Average Recommendation of “Buy” from Analysts

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have earned a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $55.00.

Several research firms have weighed in on HRMY. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective for the company. Cantor Fitzgerald boosted their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and set a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Finally, HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of Harmony Biosciences in a research report on Monday, January 27th.

Insider Buying and Selling

In related news, CEO Jeffrey M. Dayno sold 19,293 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total transaction of $774,228.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandip Kapadia sold 1,775 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $38.05, for a total value of $67,538.75. The disclosure for this sale can be found here. Insiders sold a total of 72,452 shares of company stock worth $2,831,679 over the last 90 days. 30.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HRMY. GAMMA Investing LLC lifted its stake in Harmony Biosciences by 92.6% in the fourth 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 last quarter. Mendota Financial Group LLC lifted its stake in Harmony Biosciences by 24,125.0% in the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after buying an additional 965 shares during the last quarter. CWM LLC lifted its stake 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 buying an additional 775 shares during the last quarter. KBC Group NV lifted its stake in Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after buying an additional 819 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Harmony Biosciences in the third quarter valued at approximately $74,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $38.98 on Friday. The company has a market cap of $2.22 billion, a P/E ratio of 18.47, a P/E/G ratio of 0.51 and a beta of 0.80. 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 stock has a 50-day moving average of $36.17 and a two-hundred day moving average of $35.65. Harmony Biosciences has a 1-year low of $28.14 and a 1-year high of $41.61.

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.