Harmony Biosciences (NASDAQ:HRMY) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a research note issued to investors on Friday morning, Benzinga reports. Cantor Fitzgerald currently has a $49.00 price objective on the stock.

A number of other equities analysts also recently commented on HRMY. Bank of America reiterated an underperform rating and set a $30.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, January 2nd. Mizuho reduced their price objective on Harmony Biosciences from $42.00 to $40.00 and set a buy rating on the stock in a research report on Tuesday, February 27th. The Goldman Sachs Group lifted their target price on Harmony Biosciences from $25.00 to $28.00 and gave the company a sell rating in a research report on Tuesday, January 9th. Finally, Needham & Company LLC reiterated a buy rating and set a $50.00 price target on shares of Harmony Biosciences in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $40.63.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $29.52 on Friday. The company has a market cap of $1.68 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.41 and a beta of 0.73. The stock’s 50 day simple moving average is $32.14 and its 200-day simple moving average is $30.18. Harmony Biosciences has a 1-year low of $18.61 and a 1-year high of $39.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.75 and a quick ratio of 2.72.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Thursday, February 22nd. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.29). Harmony Biosciences had a net margin of 22.16% and a return on equity of 27.49%. The firm had revenue of $168.40 million during the quarter, compared to analysts’ expectations of $168.90 million. During the same quarter last year, the business earned $1.01 EPS. The business’s revenue was up 31.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Harmony Biosciences will post 3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeffrey Dierks sold 11,979 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $32.00, for a total transaction of $383,328.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 34.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds have recently made changes to their positions in HRMY. BlackRock Inc. lifted its holdings in Harmony Biosciences by 15.9% during the 2nd quarter. BlackRock Inc. now owns 5,750,478 shares of the company’s stock worth $202,359,000 after buying an additional 790,338 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Harmony Biosciences by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,684,152 shares of the company’s stock worth $120,730,000 after buying an additional 88,295 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Harmony Biosciences by 18.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,420,000 shares of the company’s stock worth $46,533,000 after buying an additional 220,000 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Harmony Biosciences by 534,795.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,224,910 shares of the company’s stock worth $39,565,000 after buying an additional 1,224,681 shares in the last quarter. Finally, State Street Corp lifted its holdings in Harmony Biosciences by 9.3% during the 2nd quarter. State Street Corp now owns 1,140,934 shares of the company’s stock worth $40,149,000 after buying an additional 97,337 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.