Mizuho Cuts Harmony Biosciences (NASDAQ:HRMY) Price Target to $42.00

Harmony Biosciences (NASDAQ:HRMY) had its price objective decreased by investment analysts at Mizuho from $52.00 to $42.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 20.24% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of Harmony Biosciences in a research note on Wednesday. Cantor Fitzgerald boosted their price target 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. Needham & Company LLC cut their price objective on shares of Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday. Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price objective for the company. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $53.67.

Harmony Biosciences Price Performance

HRMY stock traded down $0.39 during midday trading on Thursday, reaching $34.93. The company had a trading volume of 216,359 shares, compared to its average volume of 555,848. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. Harmony Biosciences has a 1 year low of $28.14 and a 1 year high of $41.61. The company has a market capitalization of $1.99 billion, a P/E ratio of 16.55, a P/E/G ratio of 0.52 and a beta of 0.80. The firm has a 50-day moving average price of $36.47 and a 200-day moving average price of $35.75.

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 19,293 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandip Kapadia sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was 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 three months. 30.80% of the stock is owned by insiders.

Institutional Trading of Harmony Biosciences

A number of institutional investors have recently made changes to their positions in the stock. Deep Track Capital LP purchased a new position in shares of Harmony Biosciences in the fourth quarter valued at $49,894,000. Vanguard Group Inc. grew its stake in shares of Harmony Biosciences by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock worth $162,883,000 after acquiring an additional 1,262,362 shares during the last quarter. Marshall Wace LLP boosted its position in Harmony Biosciences by 165.2% in the fourth quarter. Marshall Wace LLP now owns 929,744 shares of the company’s stock valued at $31,992,000 after buying an additional 579,103 shares during the last quarter. Norges Bank purchased a new position in Harmony Biosciences in the 4th quarter valued at $16,118,000. Finally, Pacer Advisors Inc. increased 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 worth $78,452,000 after purchasing an additional 351,582 shares during 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.