Harmony Biosciences (NASDAQ:HRMY) Receives “Buy” Rating from HC Wainwright

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $75.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 95.21% from the company’s previous close.

HRMY has been the subject of several other research reports. Mizuho raised their target price on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Oppenheimer restated an “outperform” rating and issued a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Raymond James reaffirmed an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a research note on Thursday, October 10th. Cantor Fitzgerald boosted their price target 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, Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a research report on Monday, January 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $55.00.

Harmony Biosciences Stock Performance

HRMY opened at $38.42 on Monday. 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 price is $35.08 and its 200 day moving average price is $35.19. Harmony Biosciences has a twelve month low of $28.14 and a twelve month high of $41.61. The firm has a market capitalization of $2.19 billion, a PE ratio of 18.21, a PEG ratio of 0.51 and a beta of 0.78.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.15. The firm had revenue of $186.00 million for the quarter, compared to analysts’ expectations of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. As a group, sell-side analysts expect that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Insider Transactions at Harmony Biosciences

In other news, CEO Jeffrey M. Dayno sold 19,293 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total transaction of $774,228.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jeffrey Dierks sold 1,123 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total value of $44,920.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Harmony Biosciences

Large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its stake in shares of Harmony Biosciences by 18.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock valued at $78,452,000 after buying an additional 351,582 shares during the period. Marshall Wace LLP lifted its stake in Harmony Biosciences by 145.4% in the second quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock worth $9,220,000 after acquiring an additional 181,092 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Harmony Biosciences by 27.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock worth $26,416,000 after acquiring an additional 140,690 shares in the last quarter. HealthInvest Partners AB increased its position in shares of Harmony Biosciences by 335.2% in the 3rd quarter. HealthInvest Partners AB now owns 151,875 shares of the company’s stock valued at $6,075,000 after purchasing an additional 116,975 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Harmony Biosciences by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company’s stock valued at $28,871,000 after purchasing an additional 112,197 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.