Mizuho Raises Harmony Biosciences (NASDAQ:HRMY) Price Target to $44.00

Harmony Biosciences (NASDAQ:HRMY) had its price target lifted by equities research analysts at Mizuho from $42.00 to $44.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 27.91% from the stock’s previous close.

A number of other brokerages also recently weighed in on HRMY. HC Wainwright lowered their price objective on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price target on the stock. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Harmony Biosciences currently has an average rating of “Buy” and a consensus price target of $53.33.

Harmony Biosciences Price Performance

Shares of HRMY opened at $34.40 on Tuesday. The stock has a market cap of $1.97 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. 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 fifty-two week low of $28.14 and a fifty-two week high of $41.61. The firm’s 50-day simple moving average is $36.39 and its two-hundred day simple moving average is $35.60.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $201.30 million for the quarter, compared to analysts’ expectations of $201.25 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. Analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jeffrey Dierks sold 1,123 shares of the firm’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 filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock worth $2,831,679 in the last three months. Company insiders own 30.80% of the company’s stock.

Institutional Trading of Harmony Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the company. Hillsdale Investment Management Inc. grew its stake in Harmony Biosciences by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 68,000 shares of the company’s stock valued at $2,340,000 after acquiring an additional 300 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Harmony Biosciences by 2.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company’s stock valued at $704,000 after acquiring an additional 420 shares in the last quarter. GAMMA Investing LLC grew its stake in Harmony Biosciences by 92.6% during the fourth 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. PNC Financial Services Group Inc. grew its stake in Harmony Biosciences by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock valued at $80,000 after acquiring an additional 519 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Harmony Biosciences by 1.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,331 shares of the company’s stock valued at $2,145,000 after acquiring an additional 678 shares in the last quarter. 86.23% of the stock is currently 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.