Harmony Biosciences’ (HRMY) Overweight Rating Reaffirmed at Cantor Fitzgerald

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a note issued to investors on Thursday, Benzinga reports. They presently have a $49.00 price target on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 47.32% from the company’s current price.

A number of other research firms have also issued reports on HRMY. The Goldman Sachs Group increased their target price on Harmony Biosciences from $25.00 to $28.00 and gave the company a “sell” rating in a research note on Tuesday, January 9th. Mizuho lowered their price objective on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Bank of America restated an “underperform” rating and set a $30.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, January 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $53.00 price objective on shares of Harmony Biosciences in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.00.

Harmony Biosciences Trading Down 0.8 %

Shares of Harmony Biosciences stock traded down $0.26 during trading hours on Thursday, reaching $33.26. The stock had a trading volume of 38,138 shares, compared to its average volume of 364,061. The firm has a 50 day simple moving average of $32.17 and a two-hundred day simple moving average of $30.64. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 0.45 and a beta of 0.72. The company has a current ratio of 2.75, a quick ratio of 2.72 and a debt-to-equity ratio of 0.38. Harmony Biosciences has a 1 year low of $18.61 and a 1 year high of $39.26.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Thursday, February 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.29). Harmony Biosciences had a net margin of 22.16% and a return on equity of 27.49%. The company had revenue of $168.40 million during the quarter, compared to analyst estimates of $168.90 million. During the same quarter last year, the business posted $1.01 EPS. Harmony Biosciences’s quarterly revenue was up 31.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Harmony Biosciences will post 3 earnings per share for the current year.

Insider Activity at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 11,979 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $32.00, for a total transaction of $383,328.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

Several large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its stake in shares of Harmony Biosciences by 2.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,059 shares of the company’s stock valued at $609,000 after purchasing an additional 290 shares during the period. Ensign Peak Advisors Inc grew its stake in shares of Harmony Biosciences by 2.6% in the 1st quarter. Ensign Peak Advisors Inc now owns 11,710 shares of the company’s stock valued at $382,000 after purchasing an additional 300 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Harmony Biosciences by 0.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 40,889 shares of the company’s stock worth $1,321,000 after acquiring an additional 328 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Harmony Biosciences by 47.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after acquiring an additional 329 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Harmony Biosciences by 3.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,599 shares of the company’s stock worth $529,000 after acquiring an additional 357 shares in 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.