Harmony Biosciences (NASDAQ:HRMY) Earns Buy Rating from HC Wainwright

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They currently have a $55.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 51.10% from the stock’s current price.

HRMY has been the topic of several other reports. UBS Group restated a “neutral” rating and set a $37.00 price objective on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Wolfe Research started coverage on shares of Harmony Biosciences in a report on Wednesday, August 26th. They issued an “outperform” rating and a $60.00 target price for the company. Wall Street Zen raised shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Mizuho upped their price objective on shares of Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $47.44.

Harmony Biosciences Stock Down 4.8%

Shares of Harmony Biosciences stock traded down $1.83 on Tuesday, hitting $36.40. The company had a trading volume of 674,665 shares, compared to its average volume of 863,930. Harmony Biosciences has a 1 year low of $25.52 and a 1 year high of $43.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. The stock has a 50 day moving average of $40.13 and a 200-day moving average of $35.12. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 0.32 and a beta of 1.01.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.32. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%. The company had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $250.77 million. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Harmony Biosciences’s quarterly revenue was up 30.3% on a year-over-year basis. As a group, sell-side analysts forecast that Harmony Biosciences will post 3.79 earnings per share for the current year.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences news, insider Kumar Budur sold 35,852 shares of the company’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $43.05, for a total transaction of $1,543,428.60. Following the sale, the insider directly owned 13,115 shares of the company’s stock, valued at $564,600.75. This represents a 73.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 72,406 shares of company stock valued at $3,108,520. Insiders own 11.00% of the company’s stock.

Institutional Trading of Harmony Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of HRMY. IFP Advisors Inc boosted its holdings in Harmony Biosciences by 4.6% in the 2nd quarter. IFP Advisors Inc now owns 8,102 shares of the company’s stock worth $295,000 after buying an additional 353 shares during the period. Farther Finance Advisors LLC grew its stake in Harmony Biosciences by 166.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock valued at $32,000 after buying an additional 510 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in Harmony Biosciences by 3.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 20,020 shares of the company’s stock valued at $561,000 after acquiring an additional 727 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Harmony Biosciences by 4.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,566 shares of the company’s stock valued at $640,000 after acquiring an additional 787 shares during the period. Finally, Nykredit A S purchased a new stake in shares of Harmony Biosciences during the second quarter worth $33,000. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences News Summary

Here are the key news stories impacting Harmony Biosciences this week:

• Positive Sentiment: Analyst support remains strong. HC Wainwright reaffirmed its “buy” rating and set a $55 price target, implying approximately 49% upside from the referenced share price. HC Wainwright reaffirms buy rating and $55 price target
• Positive Sentiment: Needham also reaffirmed a “buy” rating. Its $50 price target implies roughly 36% upside, indicating that analysts continue to see meaningful appreciation potential for HRMY. Harmony Biosciences earns buy rating from Needham
• Positive Sentiment: Fundamentals have been favorable. Harmony’s latest reported quarter exceeded earnings and revenue expectations, with revenue increasing year over year, supporting the bullish analyst outlook.
• Neutral Sentiment: Peter Anastasiou has been promoted from COO to president and CEO as part of a planned transition intended to support the company’s next phase of growth. His internal promotion may provide continuity, though investors will evaluate execution under the new leadership. Harmony Biosciences promotes COO Peter Anastasiou to president and CEO
• Neutral Sentiment: A comparison of PainReform and Harmony Biosciences’ financial profiles provides limited direct information about HRMY’s near-term valuation or business outlook. PainReform and Harmony Biosciences financial comparison

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial-stage pharmaceutical company focused on developing and marketing therapies for patients with rare neurological disorders. The company’s activities center on conditions that are often underserved by conventional treatment options, including sleep disorders and other central nervous system diseases.

Harmony’s principal product is WAKIX (pitolisant), an oral, non-scheduled medication that acts as a histamine-3 receptor antagonist/inverse agonist.