HC Wainwright Reaffirms Buy Rating for Harmony Biosciences (NASDAQ:HRMY)

Harmony Biosciences (NASDAQ:HRMY - Get Free Report)'s stock had its "buy" rating reiterated by HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $75.00 price target on the stock. HC Wainwright's price objective suggests a potential upside of 117.01% from the stock's previous close.

Several other research analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They set a "buy" rating and a $55.00 price objective for the company. Oppenheimer reaffirmed an "outperform" rating and set a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Cantor Fitzgerald lifted their price objective 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. Finally, Needham & Company LLC cut their price objective on shares of Harmony Biosciences from $52.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Harmony Biosciences currently has an average rating of "Buy" and a consensus price target of $53.67.

Harmony Biosciences Stock Down 0.9 %

Shares of NASDAQ:HRMY traded down $0.33 during midday trading on Wednesday, reaching $34.56. 667,803 shares of the company were exchanged, compared to its average volume of 542,346. The firm has a market cap of $1.97 billion, a PE ratio of 16.38, a P/E/G ratio of 0.47 and a beta of 0.80. Harmony Biosciences has a fifty-two week low of $28.14 and a fifty-two week high of $41.61. The stock has a fifty day simple moving average of $36.57 and a two-hundred day simple moving average of $35.79. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, CFO Sandip Kapadia sold 25,000 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total transaction of $1,004,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey M. Dayno sold 19,293 shares of Harmony Biosciences stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total value of $774,228.09. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock valued at $2,831,679 in the last three months. Corporate insiders own 30.80% of the company's stock.

Institutional Trading of Harmony Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its holdings 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 worth $183,402,000 after acquiring an additional 101,182 shares during the last quarter. Vanguard Group Inc. increased its position in Harmony Biosciences by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock worth $162,883,000 after purchasing an additional 1,262,362 shares in the last quarter. Pacer Advisors Inc. increased its position in Harmony Biosciences by 18.2% during the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company's stock worth $78,452,000 after purchasing an additional 351,582 shares in the last quarter. Deep Track Capital LP bought a new position in Harmony Biosciences in the 4th quarter valued at approximately $49,894,000. Finally, Dimensional Fund Advisors LP boosted its position in 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 buying an additional 160,490 shares in the last quarter. 86.23% of the stock is currently 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.