Harmony Biosciences (NASDAQ:HRMY) Given Buy Rating at HC Wainwright

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They currently have a $75.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 99.36% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research note on Monday. Raymond James reiterated an “outperform” rating and set a $40.00 price objective on shares of Harmony Biosciences in a research report on Thursday, October 10th. Mizuho raised their price target on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Cantor Fitzgerald upped their target price on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Harmony Biosciences currently has an average rating of “Buy” and a consensus target price of $55.00.

Harmony Biosciences Trading Up 1.9 %

Shares of NASDAQ HRMY traded up $0.69 during midday trading on Thursday, reaching $37.62. The company had a trading volume of 168,444 shares, compared to its average volume of 429,930. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. Harmony Biosciences has a one year low of $28.14 and a one year high of $41.61. The stock has a market cap of $2.15 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 0.49 and a beta of 0.78. The firm’s fifty day moving average price is $34.26 and its 200-day moving average price is $34.76.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business had revenue of $186.00 million during the quarter, compared to analyst estimates of $184.07 million. During the same quarter last year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities research analysts anticipate that Harmony Biosciences will post 2.42 earnings per share for the current year.

Insider Activity

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the company’s 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 transaction was disclosed in a 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 institutional investors have recently added to or reduced their stakes in HRMY. GAMMA Investing LLC raised its holdings in shares of Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after buying an additional 436 shares during the last quarter. Mendota Financial Group LLC increased its position in shares of Harmony Biosciences by 24,125.0% in the fourth 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. CWM LLC lifted 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 in the last quarter. Quarry LP acquired a new position in shares of Harmony Biosciences in the second quarter worth $62,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Harmony Biosciences during the third quarter worth about $74,000. 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.