Harmony Biosciences (NASDAQ:HRMY) Price Target Lowered to $50.00 at Needham & Company LLC

Harmony Biosciences (NASDAQ:HRMY) had its price target cut by Needham & Company LLC from $52.00 to $50.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently issued reports on HRMY. HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of Harmony Biosciences in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective for the company. Cantor Fitzgerald upped their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $53.67.

Harmony Biosciences Price Performance

HRMY stock opened at $34.56 on Wednesday. The company has a 50 day simple moving average of $36.53 and a 200 day simple moving average of $35.74. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 0.47 and a beta of 0.80. Harmony Biosciences has a 1 year low of $28.14 and a 1 year high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20.

Insiders Place Their Bets

In other Harmony Biosciences news, CFO Sandip Kapadia sold 1,775 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $38.05, for a total transaction of $67,538.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Dierks sold 1,123 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. 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 Investors Weigh In On Harmony Biosciences

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after purchasing an additional 436 shares during the last quarter. Mendota Financial Group LLC boosted its stake in shares of Harmony Biosciences by 24,125.0% in the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after purchasing an additional 965 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Harmony Biosciences in the 4th quarter valued at $41,000. CWM LLC boosted its stake in shares of Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after purchasing an additional 775 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after purchasing an additional 819 shares during the last quarter. 86.23% of the stock is owned by 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.