Harmony Biosciences (NASDAQ:HRMY) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a research report released on Tuesday,Benzinga reports. They currently have a $50.00 target price on the stock.

HRMY has been the subject of several other reports. Oppenheimer reiterated an “outperform” rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Mizuho reduced their target price on Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price on the stock. Finally, Cantor Fitzgerald lifted their target price on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $53.11.

Harmony Biosciences Price Performance

Shares of HRMY stock opened at $32.75 on Tuesday. The firm’s 50 day moving average price is $36.66 and its two-hundred day moving average price is $35.81. The stock has a market cap of $1.87 billion, a PE ratio of 15.52, a PEG ratio of 0.47 and a beta of 0.80. Harmony Biosciences has a 52-week low of $28.14 and a 52-week high of $41.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $201.30 million for the quarter, compared to analyst estimates of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. Harmony Biosciences’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, analysts forecast that Harmony Biosciences will post 2.43 EPS for the current year.

Insider Transactions at Harmony Biosciences

In other news, CFO Sandip Kapadia sold 1,775 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $38.05, for a total transaction of $67,538.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Dierks sold 1,123 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,452 shares of company stock valued at $2,831,679. Corporate insiders own 30.80% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

Large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in Harmony Biosciences by 92.6% during the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after acquiring an additional 436 shares during the period. Mendota Financial Group LLC grew its position in Harmony Biosciences by 24,125.0% during the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after buying an additional 965 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in Harmony Biosciences in the fourth quarter valued at approximately $41,000. KBC Group NV lifted its holdings in shares of Harmony Biosciences by 79.9% during the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after acquiring an additional 819 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Harmony Biosciences in the 3rd quarter worth about $74,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.