Mizuho Issues Positive Forecast for Harmony Biosciences (NASDAQ:HRMY) Stock Price

Harmony Biosciences (NASDAQ:HRMY - Free Report) had its target price lifted by Mizuho from $42.00 to $44.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts also recently issued reports on the stock. HC Wainwright reduced their price objective on shares of Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They set a "buy" rating and a $55.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, February 25th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Harmony Biosciences currently has an average rating of "Buy" and a consensus price target of $53.33.

Harmony Biosciences Price Performance

NASDAQ:HRMY traded up $0.38 during trading hours on Tuesday, reaching $35.28. 2,385,791 shares of the company traded hands, compared to its average volume of 525,513. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The firm's 50-day moving average is $36.42 and its 200-day moving average is $35.59. The stock has a market cap of $2.02 billion, a P/E ratio of 16.72, a P/E/G ratio of 0.47 and a beta of 0.82. Harmony Biosciences has a 1-year low of $28.14 and a 1-year high of $41.61.

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Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, beating 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 business had revenue of $201.30 million for the quarter, compared to analyst estimates of $201.25 million. During the same quarter last year, the company earned $0.45 earnings per share. The business's revenue for the quarter was up 19.5% compared to the same quarter last year. Equities research analysts expect that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, CFO Sandip Kapadia sold 25,000 shares of the business'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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Dierks sold 1,629 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $38.02, for a total transaction of $61,934.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,452 shares of company stock valued at $2,831,679. Company insiders own 30.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Harmony Biosciences by 1.9% in the fourth quarter. FMR LLC now owns 5,329,902 shares of the company's stock valued at $183,402,000 after buying an additional 101,182 shares in the last quarter. Vanguard Group Inc. grew its position in Harmony Biosciences by 36.4% in the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock valued at $162,883,000 after acquiring an additional 1,262,362 shares in the last quarter. Pacer Advisors Inc. raised 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 during the period. Deep Track Capital LP acquired a new position in shares of Harmony Biosciences during the fourth quarter worth $49,894,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Harmony Biosciences by 15.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company's stock valued at $41,739,000 after purchasing an additional 160,490 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

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.