Harmony Biosciences’ (HRMY) Buy Rating Reiterated at HC Wainwright

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $75.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 97.32% from the stock’s current price.

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

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $38.01 on Monday. 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 has a market capitalization of $2.17 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 0.51 and a beta of 0.78. The business’s 50-day moving average price is $34.86 and its two-hundred day moving average price is $35.12.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $186.00 million during the quarter, compared to the consensus estimate of $184.07 million. During the same quarter last year, the firm earned $0.63 earnings per share. Harmony Biosciences’s quarterly revenue was up 16.0% on a year-over-year basis. On average, analysts expect that Harmony Biosciences will post 2.43 EPS for the current year.

Insider Activity at Harmony Biosciences

In related news, CEO Jeffrey M. Dayno sold 19,293 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Dierks sold 10,507 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total value of $388,864.07. The disclosure for this sale can be found here. Insiders have sold a total of 77,419 shares of company stock valued at $3,082,455 over the last 90 days. Insiders own 30.80% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

A number of hedge funds have recently made changes to their positions in HRMY. GAMMA Investing LLC increased its holdings in Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after buying an additional 436 shares during the last quarter. Mendota Financial Group LLC increased its stake in shares of Harmony Biosciences by 24,125.0% during the 4th 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. CWM LLC increased its stake in shares of Harmony Biosciences by 111.7% during 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 last quarter. Quarry LP bought a new stake in shares of Harmony Biosciences in the 2nd quarter worth approximately $62,000. Finally, KBC Group NV grew its holdings in Harmony Biosciences by 79.9% during 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 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.