Harmony Biosciences (NASDAQ:HRMY) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $55.00 target price on the stock.

Several other analysts have also recently weighed in on HRMY. Cantor Fitzgerald lifted their price target on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and set a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. HC Wainwright restated a “buy” rating and set a $75.00 target price on shares of Harmony Biosciences in a report on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research report on Monday, January 13th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $55.00.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $37.74 on Tuesday. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 0.51 and a beta of 0.80. The stock has a fifty day moving average of $35.83 and a 200 day moving average of $35.53. Harmony Biosciences has a 52 week low of $28.14 and a 52 week 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.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Jeffrey Dierks sold 10,507 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total transaction of $388,864.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandip Kapadia sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total value of $1,004,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Citigroup Inc. grew its stake in shares of Harmony Biosciences by 9.8% during the 3rd quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock valued at $7,114,000 after acquiring an additional 15,859 shares during the period. HighTower Advisors LLC boosted its stake in Harmony Biosciences by 364.0% in the 3rd quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock worth $3,199,000 after purchasing an additional 62,729 shares during the period. Quest Partners LLC boosted its stake in Harmony Biosciences by 137.6% in the 3rd quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock worth $1,429,000 after purchasing an additional 20,689 shares during the period. JPMorgan Chase & Co. boosted its stake in Harmony Biosciences by 68.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock worth $9,217,000 after purchasing an additional 93,622 shares during the period. Finally, CWA Asset Management Group LLC bought a new position in Harmony Biosciences in the 3rd quarter worth approximately $576,000. 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.