Harmony Biosciences (NASDAQ:HRMY) Given New $42.00 Price Target at Mizuho

Harmony Biosciences (NASDAQ:HRMY) had its price target trimmed by Mizuho from $52.00 to $42.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of Harmony Biosciences in a research report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price target on the stock. Cantor Fitzgerald upped their price target 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 set a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Finally, Needham & Company LLC cut their target price on Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $53.67.

Harmony Biosciences Stock Performance

Shares of Harmony Biosciences stock opened at $34.56 on Thursday. Harmony Biosciences has a 12 month low of $28.14 and a 12 month high of $41.61. The firm has a market capitalization of $1.97 billion, a P/E ratio of 16.38, a P/E/G ratio of 0.47 and a beta of 0.80. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $36.57 and a two-hundred day simple moving average of $35.79.

Insider Transactions at Harmony Biosciences

In other news, CFO Sandip Kapadia sold 1,775 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $38.05, for a total transaction of $67,538.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Dierks sold 1,629 shares of Harmony Biosciences stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $38.02, for a total transaction of $61,934.58. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock worth $2,831,679 over the last quarter. 30.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Harmony Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. raised its stake in Harmony Biosciences by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 68,000 shares of the company’s stock valued at $2,340,000 after buying an additional 300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Harmony Biosciences by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $80,000 after acquiring an additional 360 shares during the period. O Shaughnessy Asset Management LLC increased its position in Harmony Biosciences by 2.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company’s stock valued at $704,000 after acquiring an additional 420 shares during the last quarter. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 436 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Harmony Biosciences by 28.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock worth $80,000 after purchasing an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.