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

Harmony Biosciences (NASDAQ:HRMY) had its price objective decreased by Needham & Company LLC from $52.00 to $50.00 in a report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

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

Harmony Biosciences Trading Down 0.9 %

Shares of NASDAQ:HRMY opened at $34.56 on Wednesday. Harmony Biosciences has a 12 month low of $28.14 and a 12 month high of $41.61. 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 company’s fifty day simple moving average is $36.53 and its 200 day simple moving average is $35.74. 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.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Jeffrey Dierks sold 1,123 shares of Harmony Biosciences 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey M. Dayno sold 19,293 shares of Harmony Biosciences stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total transaction of $774,228.09. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock worth $2,831,679 in the last quarter. 30.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Harmony Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position 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 buying an additional 436 shares in the last quarter. Mendota Financial Group LLC raised its position 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 buying an additional 965 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Harmony Biosciences in the 4th quarter valued at approximately $41,000. CWM LLC raised its position 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 buying an additional 775 shares in the last quarter. Finally, KBC Group NV raised its position 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 buying an additional 819 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

About Harmony Biosciences

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.