Harmony Biosciences (NASDAQ:HRMY) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $75.00 target price on the stock.

HRMY has been the topic of several other reports. Cantor Fitzgerald lifted their target price on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price objective on the stock. Needham & Company LLC lowered their price target on shares of Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $54.78.

Harmony Biosciences Price Performance

HRMY stock opened at $35.32 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. Harmony Biosciences has a 52-week low of $28.14 and a 52-week high of $41.61. The company has a market capitalization of $2.01 billion, a P/E ratio of 16.74, a PEG ratio of 0.52 and a beta of 0.80. The company has a fifty day moving average price of $36.47 and a 200-day moving average price of $35.75.

Insider Activity

In other Harmony Biosciences news, insider Jeffrey Dierks sold 1,123 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandip Kapadia sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total value of $1,004,500.00. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock worth $2,831,679 in the last quarter. 30.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in Harmony Biosciences by 92.6% during the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after acquiring an additional 436 shares in the last quarter. Mendota Financial Group LLC boosted its holdings 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 last quarter. GF Fund Management CO. LTD. bought a new stake in Harmony Biosciences in the 4th quarter worth about $41,000. CWM LLC increased its stake 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 buying an additional 775 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of 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 acquiring an additional 819 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Company Profile

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.