Brokerages Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $53.33

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been given a consensus rating of “Buy” by the nine analysts that are covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $53.33.

A number of research firms recently issued reports on HRMY. Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday. Finally, Mizuho boosted their price objective on shares of Harmony Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, March 18th.

Insider Buying and Selling at Harmony Biosciences

In related news, CFO Sandip Kapadia sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total transaction of $1,004,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Dierks sold 10,507 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total value of $388,864.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Harmony Biosciences

A number of large investors have recently modified their holdings of the business. HighTower Advisors LLC increased its position in shares of Harmony Biosciences by 364.0% in the 3rd quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock valued at $3,199,000 after acquiring an additional 62,729 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Harmony Biosciences by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock worth $9,217,000 after purchasing an additional 93,622 shares during the last quarter. Swiss National Bank boosted its holdings in Harmony Biosciences by 28.2% in the fourth quarter. Swiss National Bank now owns 78,200 shares of the company’s stock valued at $2,691,000 after purchasing an additional 17,200 shares during the last quarter. Teacher Retirement System of Texas grew its position in Harmony Biosciences by 50.6% during the 4th quarter. Teacher Retirement System of Texas now owns 11,801 shares of the company’s stock worth $406,000 after purchasing an additional 3,964 shares during the period. Finally, Barclays PLC raised its stake in shares of Harmony Biosciences by 110.9% during the 3rd quarter. Barclays PLC now owns 76,862 shares of the company’s stock valued at $3,074,000 after buying an additional 40,416 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Trading Up 0.6 %

HRMY stock opened at $29.17 on Monday. Harmony Biosciences has a twelve month low of $26.47 and a twelve month high of $41.61. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The firm’s fifty day simple moving average is $33.89 and its two-hundred day simple moving average is $34.80.

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

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.