Harmony Biosciences' (HRMY) "Buy" Rating Reaffirmed at HC Wainwright

Harmony Biosciences (NASDAQ:HRMY - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Marketbeat reports. They presently have a $55.00 price objective on the stock. HC Wainwright's price target indicates a potential upside of 43.87% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. Zacks Research cut shares of Harmony Biosciences from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. UBS Group restated a "neutral" rating and set a $37.00 target price on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $42.00 target price on shares of Harmony Biosciences in a research note on Thursday, October 1st. Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Harmony Biosciences in a research note on Monday. Finally, Weiss Ratings upgraded shares of Harmony Biosciences from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $47.44.

Harmony Biosciences Trading Down 5.1%

Shares of Harmony Biosciences stock opened at $38.23 on Tuesday. The company's fifty day simple moving average is $40.13 and its 200-day simple moving average is $35.12. The stock has a market capitalization of $2.23 billion, a PE ratio of 12.41, a P/E/G ratio of 0.32 and a beta of 1.01. 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 current ratio of 3.48 and a quick ratio of 3.45.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The business had revenue of $261.28 million for the quarter, compared to analysts' expectations of $250.77 million. During the same quarter last year, the company posted $0.92 EPS. The company's revenue was up 30.3% compared to the same quarter last year. As a group, equities analysts anticipate 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 Harmony Biosciences stock in a transaction on Friday, September 18th. The shares were sold at an average price of $43.05, for a total value of $1,543,428.60. Following the sale, the insider directly owned 13,115 shares in the company, valued at approximately $564,600.75. The trade was a 73.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have 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

A number of institutional investors and hedge funds have recently bought and sold shares of HRMY. BlackRock Inc. bought a new position in Harmony Biosciences during the 2nd quarter valued at about $258,583,000. SG Americas Securities LLC grew its stake in Harmony Biosciences by 109.9% in the 1st quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company's stock worth $56,529,000 after acquiring an additional 1,056,507 shares in the last quarter. Armistice Capital LLC purchased a new stake in shares of Harmony Biosciences in the 4th quarter worth approximately $18,710,000. venBio Partners LLC purchased a new stake in shares of Harmony Biosciences in the 2nd quarter worth approximately $17,192,584. Finally, Tieton Capital Management LLC purchased a new stake in shares of Harmony Biosciences in the 2nd quarter worth approximately $11,170,000. 86.23% of the stock is currently owned by institutional investors.

More Harmony Biosciences News

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

• Positive Sentiment: HC Wainwright reaffirmed its Buy rating and set a $55 price target, implying substantial upside from the stock’s current level. HC Wainwright reaffirms Buy rating and $55 price target
• Positive Sentiment: Needham & Company also reaffirmed its Buy rating and established a $50 price target, signaling continued analyst confidence in Harmony’s growth outlook. Harmony Biosciences earns Buy rating from Needham
• Neutral Sentiment: Harmony announced that COO Peter Anastasiou will become president and CEO as part of a planned transition intended to support the company’s next phase of growth. The appointment provides continuity from an existing executive, but investors may remain cautious while evaluating the strategic implications of the change. Harmony promotes COO Peter Anastasiou to President and CEO

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.