Harmony Biosciences (NASDAQ:HRMY) Price Target Lowered to $70.00 at HC Wainwright

Harmony Biosciences (NASDAQ:HRMY) had its price objective trimmed by HC Wainwright from $75.00 to $70.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday. Mizuho reduced their price objective on Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald increased their price target on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $53.11.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $32.75 on Thursday. The stock has a market capitalization of $1.87 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. Harmony Biosciences has a 12 month low of $28.14 and a 12 month high of $41.61. The business has a 50 day simple moving average of $36.66 and a 200-day simple moving average of $35.81.

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

Insider Transactions at Harmony Biosciences

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

Institutional Trading of Harmony Biosciences

Several institutional investors have recently added to or reduced their stakes in HRMY. GAMMA Investing LLC lifted its position in shares of Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after purchasing an additional 436 shares during the last quarter. Mendota Financial Group LLC lifted its holdings in Harmony Biosciences by 24,125.0% in the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after acquiring an additional 965 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Harmony Biosciences in the 4th quarter worth approximately $41,000. KBC Group NV lifted its stake in Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after buying an additional 819 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Harmony Biosciences in the 3rd quarter worth about $74,000. 86.23% of the stock is owned by institutional investors and hedge funds.

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.