Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Average Rating of "Buy" by Analysts

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) have been assigned an average rating of "Buy" from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is $54.78.

HRMY has been the topic of a number of research reports. HC Wainwright restated a "buy" rating and issued a $75.00 price target on shares of Harmony Biosciences in a research note on Wednesday. Oppenheimer reissued an "outperform" rating and issued a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Needham & Company LLC reduced their price target on shares of Harmony Biosciences from $52.00 to $50.00 and set a "buy" rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price objective on the stock. Finally, Cantor Fitzgerald upped their target price 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.

Harmony Biosciences Stock Performance

HRMY stock traded down $3.85 on Friday, hitting $35.24. The company had a trading volume of 1,017,205 shares, compared to its average volume of 558,581. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 0.52 and a beta of 0.80. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The stock's 50-day simple moving average is $36.28 and its 200 day simple moving average is $35.71. Harmony Biosciences has a 12-month low of $28.14 and a 12-month high of $41.61.

Insider Activity

In related news, insider Jeffrey Dierks sold 1,123 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was 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 72,452 shares of company stock worth $2,831,679 in the last three months. Company insiders own 30.80% of the company's stock.

Institutional Investors Weigh In On Harmony Biosciences

Several large investors have recently made changes to their positions in HRMY. Hillsdale Investment Management Inc. boosted its stake in Harmony Biosciences by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 68,000 shares of the company's stock valued at $2,340,000 after buying an additional 300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Harmony Biosciences by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock worth $80,000 after acquiring an additional 360 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Harmony Biosciences by 2.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company's stock valued at $704,000 after acquiring an additional 420 shares during the last quarter. GAMMA Investing LLC grew 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 purchasing an additional 436 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Harmony Biosciences by 28.7% in the fourth 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 during the last quarter. 86.23% of the stock is owned by institutional investors.

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.