Harmony Biosciences (NASDAQ:HRMY) Receives “Neutral” Rating from UBS Group

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “neutral” rating reaffirmed by research analysts at UBS Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $46.00 target price on the stock, up from their prior target price of $43.00. UBS Group’s price objective suggests a potential upside of 21.28% from the company’s previous close.

HRMY has been the topic of several other reports. Zacks Research raised Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Oppenheimer reissued an “outperform” rating and set a $62.00 target price on shares of Harmony Biosciences in a research report on Monday, November 24th. Needham & Company LLC restated a “buy” rating and issued a $42.00 price target on shares of Harmony Biosciences in a research report on Monday, November 24th. HC Wainwright reiterated a “buy” rating on shares of Harmony Biosciences in a research report on Wednesday, December 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Harmony Biosciences in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.63.

Harmony Biosciences Trading Up 2.3%

Harmony Biosciences stock opened at $37.93 on Wednesday. Harmony Biosciences has a 12-month low of $25.52 and a 12-month high of $40.87. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 0.34 and a beta of 0.84. The firm has a 50 day moving average of $37.67 and a 200 day moving average of $34.30. The company has a current ratio of 3.75, a quick ratio of 3.72 and a debt-to-equity ratio of 0.18.

Insider Activity

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 25,933 shares of Harmony Biosciences stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $40.11, for a total transaction of $1,040,172.63. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandip Kapadia sold 20,961 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $35.92, for a total transaction of $752,919.12. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 50,640 shares of company stock valued at $1,932,256. Insiders own 23.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Harmony Biosciences by 589.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after purchasing an additional 643 shares in the last quarter. Allworth Financial LP raised its position in shares of Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after buying an additional 602 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Harmony Biosciences in the 4th quarter worth approximately $30,000. Parkside Financial Bank & Trust boosted its holdings in shares of Harmony Biosciences by 4,185.2% in the second quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock valued at $37,000 after acquiring an additional 1,130 shares in the last quarter. Finally, National Bank of Canada FI bought a new position in shares of Harmony Biosciences in the third quarter valued at approximately $40,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial?stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.