Harmony Biosciences (NASDAQ:HRMY) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a report published on Wednesday,Benzinga reports. They currently have a $75.00 price objective on the stock.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald upped their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and issued a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price on the stock. Finally, Needham & Company LLC decreased their target price on Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Harmony Biosciences has an average rating of “Buy” and an average target price of $53.67.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $34.56 on Wednesday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. 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 business has a 50-day moving average price of $36.53 and a 200-day moving average price of $35.74. Harmony Biosciences has a twelve month low of $28.14 and a twelve month high of $41.61.

Insider Buying and Selling at Harmony Biosciences

In other news, CFO Sandip Kapadia sold 1,775 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $38.05, for a total value of $67,538.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey Dierks sold 1,123 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total value of $44,920.00. 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 over the last ninety days. Company insiders own 30.80% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after buying an additional 436 shares during the period. Mendota Financial Group LLC grew its stake in Harmony Biosciences by 24,125.0% in the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after purchasing an additional 965 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Harmony Biosciences in the fourth quarter worth approximately $41,000. CWM LLC grew its stake in Harmony Biosciences by 111.7% in the third quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after purchasing an additional 775 shares in the last quarter. Finally, KBC Group NV grew its stake in Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after purchasing an additional 819 shares in the last quarter. 86.23% of the stock is currently 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.