Mizuho Issues Positive Forecast for Harmony Biosciences (NASDAQ:HRMY) Stock Price

Harmony Biosciences (NASDAQ:HRMY) had its price target upped by equities researchers at Mizuho from $42.00 to $44.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 27.91% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target for the company. HC Wainwright dropped their price target on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Harmony Biosciences in a research note on Tuesday, February 25th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $53.33.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY opened at $34.40 on Tuesday. Harmony Biosciences has a 52 week low of $28.14 and a 52 week high of $41.61. The stock has a market capitalization of $1.97 billion, a P/E ratio of 16.30, a PEG ratio of 0.47 and a beta of 0.82. The firm has a fifty day simple moving average of $36.39 and a two-hundred day simple moving average of $35.60. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, topping 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 business had revenue of $201.30 million during the quarter, compared to analysts’ expectations of $201.25 million. During the same period last year, the company posted $0.45 EPS. The business’s revenue was up 19.5% on a year-over-year basis. On average, analysts expect that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Insider Activity at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 1,123 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total value of $44,920.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandip Kapadia sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were 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 sold 72,452 shares of company stock worth $2,831,679 in the last 90 days. 30.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Harmony Biosciences

Large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after purchasing an additional 436 shares in the last quarter. Mendota Financial Group LLC raised its holdings 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. GF Fund Management CO. LTD. purchased a new position in shares of Harmony Biosciences in the 4th quarter worth approximately $41,000. KBC Group NV grew its position in shares of Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after buying an additional 819 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Harmony Biosciences in the 3rd quarter worth approximately $74,000. Institutional investors own 86.23% of the company’s stock.

About Harmony Biosciences

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.