Harmony Biosciences (NASDAQ:HRMY) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright started coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a report released on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $75.00 target price on the stock.

HRMY has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a research note on Tuesday, October 29th. Cantor Fitzgerald increased their price target on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group began coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price objective for the company. Raymond James reissued an “outperform” rating and issued a $40.00 price target on shares of Harmony Biosciences in a report on Thursday, October 10th. Finally, Oppenheimer reissued an “outperform” rating and set a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.80.

Harmony Biosciences Trading Up 1.7 %

HRMY opened at $33.63 on Tuesday. 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 $1.92 billion, a PE ratio of 16.12, a P/E/G ratio of 0.60 and a beta of 0.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The company’s 50-day moving average is $34.29 and its 200 day moving average is $34.05.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. During the same quarter last year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, research analysts predict that Harmony Biosciences will post 2.36 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jeffrey Dierks sold 21,496 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 30.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HRMY. nVerses Capital LLC bought a new position in shares of Harmony Biosciences in the second quarter worth $36,000. CWM LLC increased its stake in Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after acquiring an additional 775 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Harmony Biosciences in the 3rd quarter valued at about $74,000. Quarry LP bought a new stake in shares of Harmony Biosciences during the 2nd quarter valued at about $62,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings 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 purchasing an additional 360 shares in the last quarter. 86.23% of the stock is 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.