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

Harmony Biosciences (NASDAQ:HRMY - Get Free Report)'s stock had its "overweight" rating restated by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $49.00 price target on the stock. Cantor Fitzgerald's price target indicates a potential upside of 66.10% from the stock's previous close.

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

Harmony Biosciences Stock Performance

Shares of HRMY traded down $1.76 during mid-day trading on Friday, reaching $29.50. The company had a trading volume of 415,639 shares, compared to its average volume of 375,546. Harmony Biosciences has a 52-week low of $18.61 and a 52-week high of $39.26. The company has a quick ratio of 2.72, a current ratio of 2.75 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.67 billion, a P/E ratio of 13.92, a PEG ratio of 0.41 and a beta of 0.73. The stock has a 50 day moving average of $32.17 and a two-hundred day moving average of $30.25.

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

Insider Buying and Selling at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 11,979 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 28.40% of the company's stock.

Institutional Investors Weigh In On Harmony Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC increased its holdings in shares of Harmony Biosciences by 4.5% in the first quarter. Los Angeles Capital Management LLC now owns 25,224 shares of the company's stock valued at $847,000 after purchasing an additional 1,076 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Harmony Biosciences in the fourth quarter valued at approximately $1,274,000. Goldman Sachs Group Inc. increased its holdings in shares of Harmony Biosciences by 34.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 271,100 shares of the company's stock valued at $8,757,000 after purchasing an additional 69,142 shares during the last quarter. Cim LLC acquired a new stake in shares of Harmony Biosciences in the fourth quarter valued at approximately $368,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Harmony Biosciences by 5.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,018 shares of the company's stock valued at $421,000 after purchasing an additional 620 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

About Harmony Biosciences

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.