Brokerages Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Price Target at $53.33

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has earned a consensus recommendation of "Buy" from the nine ratings firms that are presently covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $53.33.

Several brokerages have commented on HRMY. Mizuho boosted their price target on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They set a "buy" rating and a $55.00 price target for the company. HC Wainwright reiterated a "buy" rating and set a $70.00 price objective on shares of Harmony Biosciences in a research note on Tuesday. Finally, Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Harmony Biosciences in a report on Tuesday.

Insider Buying and Selling at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 1,123 shares of Harmony Biosciences stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The disclosure for this sale can be found here. Insiders have sold a total of 72,452 shares of company stock worth $2,831,679 over the last ninety days. Insiders own 30.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. boosted its position in shares of Harmony Biosciences by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 68,000 shares of the company's stock valued at $2,340,000 after acquiring an additional 300 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Harmony Biosciences by 2.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company's stock worth $704,000 after purchasing an additional 420 shares in the last quarter. GAMMA Investing LLC raised its stake in Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company's stock worth $31,000 after purchasing an additional 436 shares in the last quarter. Rhumbline Advisers boosted its holdings in Harmony Biosciences by 0.4% in the 1st quarter. Rhumbline Advisers now owns 109,073 shares of the company's stock valued at $3,620,000 after purchasing an additional 485 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Harmony Biosciences by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock worth $80,000 after purchasing an additional 519 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Stock Up 0.6 %

Shares of HRMY traded up $0.18 during midday trading on Monday, hitting $29.17. The stock had a trading volume of 827,269 shares, compared to its average volume of 568,427. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The company has a 50 day simple moving average of $33.89 and a two-hundred day simple moving average of $34.80. Harmony Biosciences has a twelve month low of $26.47 and a twelve month high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20.

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