HC Wainwright Reiterates Buy Rating for Harmony Biosciences (NASDAQ:HRMY)

Harmony Biosciences (NASDAQ:HRMYGet Free Report)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $75.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 95.21% from the stock’s current price.

A number of other research firms have also weighed in on HRMY. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research note on Monday, January 13th. Raymond James restated an “outperform” rating and set a $40.00 price objective on shares of Harmony Biosciences in a research note on Thursday, October 10th. Oppenheimer reiterated an “outperform” rating and issued a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Cantor Fitzgerald raised their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Mizuho raised their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Harmony Biosciences has an average rating of “Buy” and an average target price of $55.00.

Read Our Latest Report on Harmony Biosciences

Harmony Biosciences Price Performance

Shares of HRMY stock opened at $38.42 on Monday. The company has a market capitalization of $2.19 billion, a P/E ratio of 18.21, a P/E/G ratio of 0.51 and a beta of 0.78. The company’s 50-day simple moving average is $35.08 and its two-hundred day simple moving average is $35.19. Harmony Biosciences has a one year low of $28.14 and a one year high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20.

Harmony Biosciences (NASDAQ:HRMYGet Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company had revenue of $186.00 million for the quarter, compared to the consensus estimate of $184.07 million. During the same period last year, the business posted $0.63 EPS. Harmony Biosciences’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts anticipate that Harmony Biosciences will post 2.43 EPS for the current year.

Insider Activity

In other Harmony Biosciences news, insider Jeffrey Dierks sold 10,507 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total value of $388,864.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandip Kapadia sold 25,000 shares of the firm’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 transaction of $1,004,500.00. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock valued at $2,831,679 in the last ninety days. Insiders own 30.80% of the company’s stock.

Institutional Trading of Harmony Biosciences

A number of hedge funds have recently added to or reduced their stakes in HRMY. GAMMA Investing LLC raised its position in shares of Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after acquiring an additional 436 shares during the period. Mendota Financial Group LLC increased its stake in shares of Harmony Biosciences by 24,125.0% in the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after purchasing an additional 965 shares in the last quarter. CWM LLC raised its holdings in Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after purchasing an additional 775 shares during the period. Quarry LP purchased a new position in Harmony Biosciences during the second quarter worth approximately $62,000. Finally, KBC Group NV grew its holdings 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 purchasing an additional 819 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

About Harmony Biosciences

(Get Free Report)

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.

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Analyst Recommendations for Harmony Biosciences (NASDAQ:HRMY)

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