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

HC Wainwright reaffirmed their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a research note released on Wednesday,Benzinga reports. HC Wainwright currently has a $75.00 price objective on the stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC reduced their price target on Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price objective on the stock. Cantor Fitzgerald lifted their price objective on 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 issued a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $53.67.

Harmony Biosciences Price Performance

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

Insider Activity at Harmony Biosciences

In related news, CFO Sandip Kapadia sold 25,000 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total transaction of $1,004,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jeffrey Dierks sold 1,123 shares of Harmony Biosciences stock in a transaction that occurred on 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 72,452 shares of company stock worth $2,831,679 over the last ninety days. 30.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Harmony Biosciences

Several hedge funds have recently made changes to their positions in HRMY. GAMMA Investing LLC boosted its position in shares of Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after purchasing an additional 436 shares in the last quarter. Mendota Financial Group LLC boosted its position in shares of Harmony Biosciences by 24,125.0% during the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after purchasing an additional 965 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Harmony Biosciences during the fourth quarter valued at approximately $41,000. CWM LLC raised its stake in Harmony Biosciences by 111.7% during 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. Finally, KBC Group NV raised its stake in Harmony Biosciences by 79.9% during 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 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.