Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Consensus Rating of “Buy” by Analysts

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have received a consensus rating of “Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $53.67.

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target on the stock. Mizuho reduced their price target on shares of Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday. Cantor Fitzgerald increased their price target on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of Harmony Biosciences in a research report on Wednesday. Finally, Oppenheimer reiterated an “outperform” rating and set a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th.

Harmony Biosciences Stock Down 0.9 %

Shares of NASDAQ HRMY opened at $34.56 on Friday. Harmony Biosciences has a one year low of $28.14 and a one year high of $41.61. 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 firm’s 50 day simple moving average is $36.57 and its two-hundred day simple moving average is $35.79. The stock has a market capitalization of $1.97 billion, a P/E ratio of 16.38, a PEG ratio of 0.47 and a beta of 0.80.

Insider Transactions at Harmony Biosciences

In related news, CEO Jeffrey M. Dayno sold 19,293 shares of Harmony Biosciences stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total value of $774,228.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jeffrey Dierks sold 10,507 shares of Harmony Biosciences stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $37.01, for a total transaction of $388,864.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,452 shares of company stock worth $2,831,679. Insiders own 30.80% of the company’s stock.

Institutional Trading of Harmony Biosciences

Large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. boosted its holdings in Harmony Biosciences by 9.8% in the third quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock valued at $7,114,000 after acquiring an additional 15,859 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Harmony Biosciences by 364.0% in the third quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock valued at $3,199,000 after acquiring an additional 62,729 shares in the last quarter. Quest Partners LLC boosted its holdings in Harmony Biosciences by 137.6% in the third quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock valued at $1,429,000 after acquiring an additional 20,689 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Harmony Biosciences by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock valued at $9,217,000 after acquiring an additional 93,622 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in Harmony Biosciences in the third quarter valued at $576,000. Institutional investors own 86.23% of the company’s stock.

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.