Stock analysts at HC Wainwright started coverage on shares of Harmony Biosciences (NASDAQ:HRMY - Get Free Report) in a research report issued on Tuesday, MarketBeat reports. The firm set a "buy" rating and a $75.00 price target on the stock. HC Wainwright's price target suggests a potential upside of 123.02% from the company's previous close.
Several other equities research analysts have also recently issued reports on HRMY. Needham & Company LLC reiterated a "buy" rating and issued a $52.00 price target on shares of Harmony Biosciences in a research note on Tuesday, October 29th. Cantor Fitzgerald increased their target price on Harmony Biosciences from $51.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Mizuho boosted 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. Oppenheimer reissued an "outperform" rating and issued a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Finally, UBS Group initiated coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They set a "buy" rating and a $56.00 price target for the company. Two analysts have rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $49.80.
Read Our Latest Stock Analysis on HRMY
Harmony Biosciences Stock Performance
NASDAQ:HRMY traded up $0.57 during mid-day trading on Tuesday, hitting $33.63. 463,310 shares of the stock were exchanged, compared to its average volume of 476,509. 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 firm's 50-day simple moving average is $34.29 and its 200 day simple moving average is $34.05. Harmony Biosciences has a fifty-two week low of $28.14 and a fifty-two week high of $41.61. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 0.60 and a beta of 0.79.
Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings results 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 net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $186.00 million for the quarter, compared to the consensus estimate of $184.07 million. During the same period in the prior year, the company posted $0.63 earnings per share. Harmony Biosciences's revenue was up 16.0% compared to the same quarter last year. As a group, equities analysts anticipate that Harmony Biosciences will post 2.36 EPS for the current fiscal year.
Insider Transactions at Harmony Biosciences
In other news, insider Jeffrey Dierks sold 21,496 shares of the firm's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 30.80% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in HRMY. Mirae Asset Global Investments Co. Ltd. raised its stake in Harmony Biosciences by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock worth $80,000 after buying an additional 360 shares during the last quarter. Profund Advisors LLC lifted its stake in shares of Harmony Biosciences by 11.1% in the 2nd quarter. Profund Advisors LLC now owns 7,557 shares of the company's stock valued at $228,000 after purchasing an additional 758 shares during the period. CWM LLC boosted its position in shares of Harmony Biosciences by 111.7% during the 3rd 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. Summit Global Investments grew its stake in Harmony Biosciences by 4.2% during the second quarter. Summit Global Investments now owns 20,164 shares of the company's stock worth $608,000 after purchasing an additional 807 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Harmony Biosciences by 0.7% in the second quarter. AQR Capital Management LLC now owns 154,345 shares of the company's stock worth $4,657,000 after purchasing an additional 1,116 shares in the last quarter. Institutional investors own 86.23% of the company's stock.
Harmony Biosciences Company Profile
(
Get Free Report)
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.
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