Harmony Biosciences’ (HRMY) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a research note released on Monday,Benzinga reports. The firm currently has a $75.00 price target on the stock.

Several other equities analysts also recently commented on the company. Cantor Fitzgerald upped their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. 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 report on Wednesday, October 30th. Raymond James reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a research report on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research report on Monday, January 13th. Finally, Mizuho upped their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $55.00.

Harmony Biosciences Stock Performance

NASDAQ:HRMY opened at $38.82 on Monday. The stock’s fifty day moving average is $35.20 and its 200 day moving average is $35.22. Harmony Biosciences has a fifty-two week low of $28.14 and a fifty-two week high of $41.61. The firm has a market capitalization of $2.21 billion, a PE ratio of 18.40, a PEG ratio of 0.51 and a beta of 0.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.15. The company had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. Harmony Biosciences’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. On average, sell-side analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current year.

Insider Activity at Harmony Biosciences

In related news, CFO Sandip Kapadia sold 25,000 shares of the firm’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 filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey Dierks sold 1,123 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were 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 valued at $2,831,679 over the last quarter. 30.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Harmony Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HRMY. GAMMA Investing LLC raised its stake in Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after buying an additional 436 shares during the last quarter. Mendota Financial Group LLC raised 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 valued at $33,000 after buying an additional 965 shares during the last quarter. CWM LLC raised its stake in Harmony Biosciences by 111.7% in the third quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after buying an additional 775 shares during the last quarter. Quarry LP purchased a new stake in Harmony Biosciences in the second quarter valued at about $62,000. Finally, KBC Group NV raised 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 valued at $63,000 after buying an additional 819 shares during 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.