Harmony Biosciences (NASDAQ:HRMY) Shares Up 4.7%

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report)'s share price rose 4.7% during mid-day trading on Thursday . The company traded as high as $30.78 and last traded at $30.76. Approximately 116,833 shares traded hands during trading, a decline of 68% from the average daily volume of 370,547 shares. The stock had previously closed at $29.37.

Analyst Ratings Changes

A number of equities analysts have commented on HRMY shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research note on Thursday, March 28th. Bank of America restated an "underperform" rating and set a $30.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, January 2nd. The Goldman Sachs Group increased their price target on Harmony Biosciences from $25.00 to $28.00 and gave the company a "sell" rating in a report on Tuesday, January 9th. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday. Finally, Mizuho cut their price target on shares of Harmony Biosciences from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.63.

Harmony Biosciences Stock Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 2.75 and a quick ratio of 2.72. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 0.42 and a beta of 0.73. The firm has a fifty day simple moving average of $32.17 and a two-hundred day simple moving average of $30.25.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.29). The company had revenue of $168.40 million for the quarter, compared to analyst estimates of $168.90 million. Harmony Biosciences had a net margin of 22.16% and a return on equity of 27.49%. The company's revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. On average, analysts expect that Harmony Biosciences Holdings, Inc. will post 3 EPS for the current year.

Insider Transactions at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 11,979 shares of the company's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $32.00, for a total value of $383,328.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 34.70% of the company's stock.

Institutional Investors Weigh In On Harmony Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of 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 purchasing an additional 790,338 shares during the period. Vanguard Group Inc. grew its position in Harmony Biosciences by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,684,152 shares of the company's stock valued at $120,730,000 after acquiring an additional 88,295 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Harmony Biosciences by 18.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,420,000 shares of the company's stock worth $46,533,000 after purchasing an additional 220,000 shares during the period. Pacer Advisors Inc. increased its stake 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 during the period. 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. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.