Harmony Biosciences (NASDAQ:HRMY) Stock Keeps “Buy” Rating at HC Wainwright

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report issued on Tuesday, MarketBeat Ratings reports. They presently have a $55.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 44.63% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Wolfe Research assumed coverage on shares of Harmony Biosciences in a research note on Wednesday, August 26th. They set an “outperform” rating and a $60.00 price objective on the stock. UBS Group restated a “neutral” rating and issued a $37.00 price target on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Zacks Research lowered shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $42.00 price target on shares of Harmony Biosciences in a report on Thursday, October 1st. Finally, Wall Street Zen upgraded shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.44.

Harmony Biosciences Stock Performance

Shares of HRMY stock traded up $1.00 on Tuesday, hitting $38.03. The company’s stock had a trading volume of 455,016 shares, compared to its average volume of 865,569. 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 company has a market capitalization of $2.21 billion, a PE ratio of 12.24, a PEG ratio of 0.30 and a beta of 1.01. Harmony Biosciences has a fifty-two week low of $25.52 and a fifty-two week high of $43.49. The stock’s 50 day moving average is $40.09 and its 200-day moving average is $35.19.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. The firm had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. Equities research analysts expect that Harmony Biosciences will post 3.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Harmony Biosciences

In related news, insider Kumar Budur sold 35,852 shares of the firm’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 transaction, the insider directly owned 13,115 shares of the company’s stock, valued at $564,600.75. This trade 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 at this link. Insiders have sold 72,406 shares of company stock worth $3,108,520 over the last 90 days. 11.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Harmony Biosciences

Several institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its holdings in shares of Harmony Biosciences by 166.7% in the third quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock worth $32,000 after buying an additional 510 shares in the last quarter. Argent Capital Management LLC bought a new position in Harmony Biosciences during the third quarter valued at approximately $647,000. Envestnet Portfolio Solutions Inc. grew its position in Harmony Biosciences by 4.7% during the second 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 last quarter. Integrated Wealth Concepts LLC bought a new position in Harmony Biosciences during the second quarter valued at approximately $65,000. Finally, IFP Advisors Inc boosted its stake in shares of Harmony Biosciences by 4.6% during the second quarter. IFP Advisors Inc now owns 8,102 shares of the company’s stock valued at $295,000 after purchasing an additional 353 shares during the period. Institutional investors own 86.23% of the company’s stock.

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.