Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) PT at $53.11

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been assigned an average recommendation of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $53.11.

HRMY has been the subject of several research reports. HC Wainwright dropped their price objective on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Mizuho dropped their price objective on shares of Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a report on Tuesday, February 25th.

Insider Buying and Selling

In other news, CFO Sandip Kapadia sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total transaction of $1,004,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey Dierks sold 1,123 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock valued at $2,831,679 in the last ninety days. 30.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors have recently modified their holdings of the stock. Deep Track Capital LP bought a new position in shares of Harmony Biosciences during the fourth quarter valued at approximately $49,894,000. Vanguard Group Inc. boosted its stake in shares of Harmony Biosciences by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock valued at $162,883,000 after purchasing an additional 1,262,362 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Harmony Biosciences by 165.2% during the fourth quarter. Marshall Wace LLP now owns 929,744 shares of the company’s stock valued at $31,992,000 after purchasing an additional 579,103 shares in the last quarter. Norges Bank bought a new position in shares of Harmony Biosciences during the fourth quarter valued at approximately $16,118,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Harmony Biosciences by 18.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock valued at $78,452,000 after purchasing an additional 351,582 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Trading Up 4.9 %

Shares of Harmony Biosciences stock opened at $34.32 on Thursday. The company has a market capitalization of $1.97 billion, a P/E ratio of 16.27, a P/E/G ratio of 0.47 and a beta of 0.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The company has a fifty day moving average of $36.40 and a 200 day moving average of $35.62. Harmony Biosciences has a fifty-two week low of $28.14 and a fifty-two week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. Harmony Biosciences’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. On average, sell-side analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

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.