Harmony Biosciences (NASDAQ:HRMY) Receives “Buy” Rating from HC Wainwright

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $75.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 114.96% from the company’s current price.

Several other equities research analysts have also weighed in on HRMY. Oppenheimer reissued an “outperform” rating and set a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective on the stock. Cantor Fitzgerald upped their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC cut their price target on shares of Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $53.67.

Harmony Biosciences Stock Down 1.2 %

Harmony Biosciences stock opened at $34.89 on Wednesday. The stock has a market cap of $1.99 billion, a PE ratio of 16.54, a P/E/G ratio of 0.52 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. The stock’s fifty day moving average is $36.53 and its two-hundred day moving average is $35.74. Harmony Biosciences has a 1-year low of $28.14 and a 1-year high of $41.61.

Insider Activity

In related news, CFO Sandip Kapadia sold 1,775 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which is available at this link. Also, insider Jeffrey Dierks sold 10,507 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were 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. Insiders have sold 72,452 shares of company stock valued at $2,831,679 in the last ninety days. 30.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Harmony Biosciences during the fourth quarter worth $41,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Harmony Biosciences by 1.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,331 shares of the company’s stock worth $2,145,000 after buying an additional 678 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in shares of Harmony Biosciences by 24.4% in the 4th quarter. Voloridge Investment Management LLC now owns 356,072 shares of the company’s stock worth $12,252,000 after acquiring an additional 69,886 shares during the period. Vident Advisory LLC boosted its holdings in shares of Harmony Biosciences by 17.9% in the fourth quarter. Vident Advisory LLC now owns 16,426 shares of the company’s stock valued at $565,000 after acquiring an additional 2,493 shares in the last quarter. Finally, Virtus Investment Advisers Inc. acquired a new position in shares of Harmony Biosciences during the fourth quarter worth about $124,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.