Harmony Biosciences (NASDAQ:HRMY) Rating Reiterated by Cantor Fitzgerald

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a report issued on Friday, Benzinga reports. They currently have a $49.00 target price on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 66.10% from the company’s previous close.

Several other research analysts have also weighed in on the company. The Goldman Sachs Group increased their target price on Harmony Biosciences from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Tuesday, January 9th. Mizuho cut their target price on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 9th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $30.00 target price on shares of Harmony Biosciences in a research report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.63.

Harmony Biosciences Trading Down 5.6 %

Shares of Harmony Biosciences stock opened at $29.50 on Friday. Harmony Biosciences has a fifty-two week low of $18.61 and a fifty-two week high of $39.26. The firm has a market cap of $1.67 billion, a PE ratio of 13.92, a P/E/G ratio of 0.44 and a beta of 0.73. The business’s fifty day moving average is $32.14 and its two-hundred day moving average is $30.23. 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 (NASDAQ:HRMY) last issued its earnings results on Thursday, February 22nd. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.29). The firm had revenue of $168.40 million during the quarter, compared to analysts’ expectations of $168.90 million. Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period last year, the business posted $1.01 earnings per share. Analysts anticipate that Harmony Biosciences will post 3 earnings per share for the current year.

Insider Buying and Selling at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 11,979 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $32.00, for a total transaction of $383,328.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 28.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Harmony Biosciences

Several large investors have recently modified their holdings of the business. TFO Wealth Partners LLC grew its stake in Harmony Biosciences by 98,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock worth $32,000 after purchasing an additional 987 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Harmony Biosciences by 47.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after purchasing an additional 329 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Harmony Biosciences by 95.3% in the third 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 in the last quarter. Lazard Asset Management LLC acquired a new position in Harmony Biosciences in the second quarter worth about $61,000. Finally, State of Wyoming grew its stake in Harmony Biosciences by 91.6% in the fourth quarter. State of Wyoming now owns 1,462 shares of the company’s stock worth $81,000 after purchasing an additional 699 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.