Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $53.33

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have received an average recommendation of “Buy” from the nine research firms that are covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have covered the stock in the last year is $53.33.

Several research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday. Mizuho increased their price objective on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday.

Insider Activity

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 19,293 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total value of $774,228.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandip Kapadia sold 25,000 shares of the 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 have sold 72,452 shares of company stock worth $2,831,679 over the last 90 days. 30.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after purchasing an additional 436 shares during the period. Mendota Financial Group LLC lifted its stake in Harmony Biosciences by 24,125.0% during the fourth 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. GF Fund Management CO. LTD. purchased a new stake in Harmony Biosciences in the fourth quarter worth approximately $41,000. KBC Group NV raised its stake in shares of Harmony Biosciences by 79.9% during the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after acquiring an additional 819 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Harmony Biosciences by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock worth $80,000 after acquiring an additional 519 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Trading Up 3.3 %

HRMY opened at $29.07 on Monday. Harmony Biosciences has a twelve month low of $26.47 and a twelve month high of $41.61. The company has a fifty day moving average of $34.28 and a 200-day moving average of $34.92. The stock has a market cap of $1.67 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. 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 results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The firm had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the business posted $0.45 EPS. On average, sell-side analysts predict that Harmony Biosciences will post 2.43 EPS for the current year.

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.