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

HC Wainwright reissued their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a report published on Wednesday,Benzinga reports. The firm currently has a $75.00 price target on the stock.

A number of other equities analysts have also commented on the company. Needham & Company LLC cut their price target on Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday. Oppenheimer restated an “outperform” rating and issued a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective for the company. Finally, Cantor Fitzgerald upped their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $54.78.

Harmony Biosciences Trading Down 9.6 %

NASDAQ:HRMY opened at $35.32 on Wednesday. Harmony Biosciences has a 12 month low of $28.14 and a 12 month high of $41.61. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $36.47 and its 200 day moving average is $35.75. The stock has a market capitalization of $2.01 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 0.52 and a beta of 0.80.

Insider Activity at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 10,507 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total transaction of $388,864.07. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total value of $774,228.09. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock worth $2,831,679 in the last ninety days. 30.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors have recently bought and sold shares of HRMY. CWM LLC raised its position in shares of 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 acquiring an additional 775 shares in the last quarter. Creative Planning bought a new position in Harmony Biosciences during the 3rd quarter valued at approximately $246,000. Hennion & Walsh Asset Management Inc. raised its stake in Harmony Biosciences by 20.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 54,274 shares of the company’s stock valued at $2,171,000 after buying an additional 9,329 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Harmony Biosciences by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after purchasing an additional 360 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Harmony Biosciences by 8,867.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,560 shares of the company’s stock worth $222,000 after purchasing an additional 5,498 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

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.