Harmony Biosciences’ (HRMY) Overweight Rating Reaffirmed at Cantor Fitzgerald

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a report issued on Thursday, Benzinga reports. They currently have a $49.00 target price on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 47.32% from the company’s current price.

A number of other analysts have also recently commented on HRMY. Bank of America reaffirmed an “underperform” rating and set a $30.00 price target on shares of Harmony Biosciences in a research report on Tuesday, January 2nd. Mizuho decreased their price objective on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $53.00 price objective on shares of Harmony Biosciences in a report on Thursday, February 22nd. Finally, The Goldman Sachs Group boosted their price objective on Harmony Biosciences from $25.00 to $28.00 and gave the company a “sell” rating in a report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Harmony Biosciences has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Harmony Biosciences Stock Performance

HRMY traded down $0.26 on Thursday, reaching $33.26. 38,138 shares of the stock were exchanged, compared to its average volume of 364,061. The company’s 50-day moving average price is $32.17 and its 200 day moving average price is $30.64. Harmony Biosciences has a fifty-two week low of $18.61 and a fifty-two week high of $39.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.75 and a quick ratio of 2.72. The firm has a market capitalization of $1.89 billion, a PE ratio of 15.62, a PEG ratio of 0.45 and a beta of 0.72.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.29). Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The firm had revenue of $168.40 million for the quarter, compared to analyst estimates of $168.90 million. During the same period in the prior year, the firm posted $1.01 EPS. The business’s revenue was up 31.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Harmony Biosciences will post 3 EPS for the current fiscal year.

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 11,979 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $32.00, for a total transaction of $383,328.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 28.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Harmony Biosciences

Several large investors have recently bought and sold shares of HRMY. TFO Wealth Partners LLC boosted its holdings in shares of Harmony Biosciences by 98,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock worth $32,000 after purchasing an additional 987 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Harmony Biosciences by 47.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after purchasing an additional 329 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Harmony Biosciences by 95.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock valued at $50,000 after acquiring an additional 748 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Harmony Biosciences in the second quarter valued at approximately $61,000. Finally, State of Wyoming lifted its holdings in Harmony Biosciences by 91.6% in the fourth quarter. State of Wyoming now owns 1,462 shares of the company’s stock valued at $81,000 after acquiring an additional 699 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

About Harmony Biosciences

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.