Harmony Biosciences (NASDAQ:HRMY) Stock Price Up 3.6% – What’s Next?

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) shot up 3.6% during trading on Tuesday . The stock traded as high as $34.32 and last traded at $34.24. 16,841 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 474,660 shares. The stock had previously closed at $33.06.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Mizuho upped their target price on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. HC Wainwright began coverage on Harmony Biosciences in a research report on Tuesday. They set a “buy” rating and a $75.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, October 29th. Cantor Fitzgerald boosted their target price on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group assumed coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.80.

Harmony Biosciences Trading Up 2.7 %

The company has a market cap of $1.94 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.60 and a beta of 0.79. 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 business’s fifty day simple moving average is $34.29 and its two-hundred day simple moving average is $34.05.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. During the same period last year, the business earned $0.63 EPS. Harmony Biosciences’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts predict that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current year.

Insider Activity

In other news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 30.80% of the company’s stock.

Institutional Trading of Harmony Biosciences

Large investors have recently bought and sold shares of the business. nVerses Capital LLC acquired a new position in Harmony Biosciences in the 2nd quarter valued at about $36,000. CWM LLC increased its holdings in shares of 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 purchasing an additional 775 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Harmony Biosciences in the third quarter valued at about $74,000. Quarry LP acquired a new position in shares of Harmony Biosciences during the second quarter worth about $62,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Harmony Biosciences by 21.2% during 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. Institutional investors and hedge funds 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.