Harmony Biosciences (NASDAQ:HRMY) Rating Reiterated by Needham & Company LLC

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $50.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 65.18% from the stock’s current price.

HRMY has been the subject of a number of other research reports. Mizuho cut their price target on shares of Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. The Goldman Sachs Group raised their price target on shares of Harmony Biosciences from $25.00 to $28.00 and gave the stock a “sell” rating in a research note on Tuesday, January 9th. Bank of America reiterated an “underperform” rating and issued a $30.00 target price on shares of Harmony Biosciences in a research note on Tuesday, January 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $49.00 target price on shares of Harmony Biosciences in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat, Harmony Biosciences has an average rating of “Moderate Buy” and an average price target of $40.63.

Harmony Biosciences Stock Down 2.1 %

Shares of HRMY opened at $30.27 on Tuesday. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 0.41 and a beta of 0.73. The company has a quick ratio of 2.72, a current ratio of 2.75 and a debt-to-equity ratio of 0.38. Harmony Biosciences has a 12 month low of $18.61 and a 12 month high of $39.26. The company has a 50-day moving average price of $31.18 and a two-hundred day moving average price of $30.02.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The firm had revenue of $154.62 million during the quarter, compared to analysts’ expectations of $154.10 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 29.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 earnings per share. Equities analysts predict that Harmony Biosciences will post 3 EPS for the current fiscal year.

Insider Activity

In related news, insider Jeffrey Dierks sold 11,979 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were 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 available at the SEC website. 30.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HRMY. TFO Wealth Partners LLC raised its position in Harmony Biosciences by 98,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock worth $32,000 after purchasing an additional 987 shares during the last quarter. Quadrant Capital Group LLC raised its position in Harmony Biosciences by 47.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after purchasing an additional 329 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Harmony Biosciences by 95.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $50,000 after purchasing an additional 748 shares during the last quarter. Oakworth Capital Inc. bought a new position in Harmony Biosciences in the 3rd quarter worth approximately $150,000. Finally, ELCO Management Co. LLC bought a new position in Harmony Biosciences in the 3rd quarter worth approximately $210,000. Institutional investors 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.