Harmony Biosciences (NASDAQ:HRMY) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright began coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a report published on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $75.00 target price on the stock.

Other equities analysts also recently issued reports about the company. UBS Group started coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target on the stock. Mizuho boosted their price target on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note 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 note on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.80.

Harmony Biosciences Trading Up 1.2 %

Harmony Biosciences stock opened at $33.89 on Tuesday. Harmony Biosciences has a one year low of $28.14 and a one year high of $41.61. The business’s fifty day moving average is $34.25 and its 200 day moving average is $34.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The stock has a market capitalization of $1.93 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 0.60 and a beta of 0.79.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 EPS 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 firm had revenue of $186.00 million during the quarter, compared to analyst estimates of $184.07 million. During the same period in the previous year, the business posted $0.63 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, sell-side analysts predict that Harmony Biosciences will post 2.36 EPS for the current year.

Insider Activity

In other news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 30.80% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

Several institutional investors have recently bought and sold shares of the stock. Citigroup Inc. boosted its holdings in shares of Harmony Biosciences by 9.8% during the 3rd quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock valued at $7,114,000 after purchasing an additional 15,859 shares during the last quarter. HighTower Advisors LLC boosted its stake in Harmony Biosciences by 364.0% during the third quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock valued at $3,199,000 after buying an additional 62,729 shares during the last quarter. Quest Partners LLC grew its holdings in Harmony Biosciences by 137.6% during the 3rd quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock valued at $1,429,000 after buying an additional 20,689 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Harmony Biosciences by 145.4% during the 2nd 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 in the last quarter. Finally, Rice Hall James & Associates LLC boosted its position in shares of Harmony Biosciences by 42.1% during the 2nd quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company’s stock valued at $2,429,000 after acquiring an additional 23,867 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other 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.