Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $55.00

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have received an average recommendation of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have covered the stock in the last year is $55.00.

Several research firms have recently commented on HRMY. HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of Harmony Biosciences in a research report on Monday. Mizuho upped their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Raymond James restated an “outperform” rating and set a $40.00 price target on shares of Harmony Biosciences in a research report on Thursday, October 10th. Oppenheimer restated an “outperform” rating and set a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald upped their price target on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th.

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 10,507 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandip Kapadia sold 1,775 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $38.05, for a total transaction of $67,538.75. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock worth $2,831,679 in the last 90 days. Corporate insiders own 30.80% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its stake in Harmony Biosciences by 19.8% during the second quarter. Envestnet Asset Management Inc. now owns 61,397 shares of the company’s stock valued at $1,852,000 after buying an additional 10,167 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Harmony Biosciences by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company’s stock valued at $28,871,000 after buying an additional 112,197 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Harmony Biosciences by 208.1% during the second quarter. Hsbc Holdings PLC now owns 23,800 shares of the company’s stock valued at $731,000 after buying an additional 16,076 shares in the last quarter. Profund Advisors LLC lifted its stake in Harmony Biosciences by 11.1% during the second quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock valued at $228,000 after buying an additional 758 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in Harmony Biosciences by 2.9% during the second quarter. Public Sector Pension Investment Board now owns 70,020 shares of the company’s stock valued at $2,113,000 after buying an additional 1,955 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Stock Performance

Harmony Biosciences stock opened at $38.42 on Wednesday. The company has a market cap of $2.19 billion, a PE ratio of 18.21, a P/E/G ratio of 0.51 and a beta of 0.78. The company has a fifty day moving average price of $35.08 and a two-hundred day moving average price of $35.19. 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.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.64 by $0.15. The business had revenue of $186.00 million during the quarter, compared to analyst estimates of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Research analysts expect that Harmony Biosciences will post 2.43 earnings per share for the current year.

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.