Harmony Biosciences’ (HRMY) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a $50.00 target price on the stock.

Other equities research analysts also recently issued reports about the company. Bank of America reaffirmed an underperform rating and set a $30.00 price target on shares of Harmony Biosciences in a research report on Tuesday, January 2nd. Cantor Fitzgerald reaffirmed an overweight rating and set a $49.00 price target on shares of Harmony Biosciences in a research report on Friday, April 12th. The Goldman Sachs Group increased their price target on Harmony Biosciences from $25.00 to $28.00 and gave the stock a sell rating in a research report on Tuesday, January 9th. Finally, Mizuho cut their price target 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. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Harmony Biosciences presently has a consensus rating of Moderate Buy and an average price target of $40.63.

Harmony Biosciences Price Performance

NASDAQ HRMY opened at $30.91 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.75 and a quick ratio of 2.72. The stock’s fifty day moving average price is $31.24 and its 200 day moving average price is $30.01. Harmony Biosciences has a 1 year low of $18.61 and a 1 year high of $39.26. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 0.41 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Thursday, February 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.29). Harmony Biosciences had a net margin of 22.16% and a return on equity of 27.49%. The firm had revenue of $168.40 million during the quarter, compared to analyst estimates of $168.90 million. During the same period in the previous year, the company earned $1.01 earnings per share. Harmony Biosciences’s revenue was up 31.3% on a year-over-year basis. As a group, equities research analysts forecast that Harmony Biosciences will post 3 earnings per share for the current year.

Insider Activity

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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 30.80% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

Institutional investors have recently modified their holdings of the business. TFO Wealth Partners LLC grew its position in shares of Harmony Biosciences by 98,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock valued at $32,000 after acquiring an additional 987 shares during the period. Quadrant Capital Group LLC lifted its stake in Harmony Biosciences by 47.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $33,000 after buying an additional 329 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake 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 valued at $50,000 after buying an additional 748 shares in the last quarter. Oakworth Capital Inc. purchased a new position in Harmony Biosciences in the 3rd quarter valued at about $150,000. Finally, ELCO Management Co. LLC purchased a new position in Harmony Biosciences in the 3rd quarter valued at about $210,000. 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.