Harmony Biosciences (NASDAQ:HRMY) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $55.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 44.77% from the company’s current price.

HRMY has been the topic of several other research reports. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of Harmony Biosciences in a report on Monday, January 27th. Oppenheimer restated an “outperform” rating and issued a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Cantor Fitzgerald boosted their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a research note on Monday, January 13th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Harmony Biosciences currently has an average rating of “Buy” and a consensus price target of $55.00.

Harmony Biosciences Trading Up 1.4 %

Shares of Harmony Biosciences stock opened at $37.99 on Tuesday. The firm has a market capitalization of $2.17 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 0.51 and a beta of 0.80. 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 company’s fifty day moving average price is $35.77 and its two-hundred day moving average price is $35.50. Harmony Biosciences has a 52-week low of $28.14 and a 52-week high of $41.61.

Insider Buying and Selling

In other Harmony Biosciences news, CFO Sandip Kapadia sold 25,000 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Dierks sold 10,507 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total value of $388,864.07. The disclosure for this sale can be found here. Insiders have sold a total of 72,452 shares of company stock worth $2,831,679 in the last 90 days. Corporate insiders own 30.80% of the company’s stock.

Institutional Trading of Harmony Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in HRMY. SG Americas Securities LLC raised its holdings in Harmony Biosciences by 244.4% during the 3rd quarter. SG Americas Securities LLC now owns 15,724 shares of the company’s stock worth $629,000 after purchasing an additional 11,158 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Harmony Biosciences by 15.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 11,300 shares of the company’s stock worth $452,000 after purchasing an additional 1,500 shares during the last quarter. CWM LLC raised its holdings in Harmony Biosciences by 111.7% during the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after purchasing an additional 775 shares during the last quarter. Creative Planning bought a new stake in Harmony Biosciences during the 3rd quarter worth about $246,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in Harmony Biosciences by 20.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 54,274 shares of the company’s stock worth $2,171,000 after purchasing an additional 9,329 shares during the last quarter. 86.23% of the stock is owned by 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.