Piper Sandler Initiates Coverage on Harmony Biosciences (NASDAQ:HRMY)

Equities researchers at Piper Sandler began coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a research note issued to investors on Monday, MarketBeat reports. The brokerage set an “overweight” rating and a $61.00 price target on the stock. Piper Sandler’s price target suggests a potential upside of 71.35% from the company’s current price.

Separately, Goldman Sachs Group initiated coverage on shares of Harmony Biosciences in a research report on Sunday. They set a “neutral” rating and a $43.00 price target for the company.

Shares of NASDAQ:HRMY opened at $35.60 on Monday. Harmony Biosciences has a 52-week low of $31.88 and a 52-week high of $47.37.

In other news, Director Jack Nielsen acquired 3,057 shares of the stock in a transaction dated Monday, August 24th. The stock was purchased at an average cost of $34.30 per share, with a total value of $104,855.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings A/S Novo acquired 132,503 shares of the stock in a transaction dated Friday, August 21st. The shares were purchased at an average cost of $24.00 per share, with a total value of $3,180,072.00. Following the completion of the purchase, the insider now owns 4,277,300 shares of the company’s stock, valued at approximately $102,655,200. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 138,296 shares of company stock valued at $3,380,687.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients living with rare neurological disorders. Its lead product includes WAKIX (pitolisant) for the treatment of pediatric patients suffering from narcolepsy. Harmony Biosciences Holdings, Inc was formerly known as Harmony Biosciences II, Inc and changed its name to Harmony Biosciences Holdings, Inc in February 2020.

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