Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Price Target at $55.00

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned an average recommendation of “Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $53.67.

Several research firms have commented on HRMY. Oppenheimer reissued an “outperform” rating and issued a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Needham & Company LLC decreased their price target on shares of Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday. Mizuho decreased their price target on shares of Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday. Cantor Fitzgerald lifted their price target on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target on the stock.

Insiders Place Their Bets

In other news, insider Jeffrey Dierks sold 1,123 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total value of $44,920.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sandip Kapadia sold 1,775 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $38.05, for a total transaction of $67,538.75. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock valued at $2,831,679 in the last ninety days. 30.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HRMY. Deep Track Capital LP acquired a new position in shares of Harmony Biosciences in the 4th quarter worth approximately $49,894,000. Vanguard Group Inc. lifted its position in shares of Harmony Biosciences by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock valued at $162,883,000 after acquiring an additional 1,262,362 shares during the period. Marshall Wace LLP lifted its position in shares of Harmony Biosciences by 165.2% during the 4th quarter. Marshall Wace LLP now owns 929,744 shares of the company’s stock valued at $31,992,000 after acquiring an additional 579,103 shares during the period. Norges Bank acquired a new position in shares of Harmony Biosciences during the 4th quarter valued at $16,118,000. Finally, Pacer Advisors Inc. lifted its position in shares of Harmony Biosciences by 18.2% during the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock valued at $78,452,000 after acquiring an additional 351,582 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Shares of Harmony Biosciences stock opened at $34.89 on Friday. Harmony Biosciences has a twelve month low of $28.14 and a twelve month high of $41.61. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $36.53 and a two-hundred day simple moving average of $35.74. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 0.52 and a beta of 0.80.

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.