Harmony Biosciences (NASDAQ:HRMY) Research Coverage Started at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH assumed coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a report released on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $55.00 price target on the stock.

A number of other analysts have also recently weighed in on the stock. Oppenheimer reiterated an “outperform” rating on shares of Harmony Biosciences in a research note on Thursday, September 24th. Wall Street Zen upgraded shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Truist Financial upped their target price on shares of Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of Harmony Biosciences in a research note on Tuesday, October 13th. Finally, Wolfe Research started coverage on shares of Harmony Biosciences in a research note on Wednesday, August 26th. They set an “outperform” rating and a $60.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Harmony Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $48.20.

Harmony Biosciences Trading Down 0.8%

Shares of HRMY stock opened at $37.95 on Thursday. Harmony Biosciences has a 1-year low of $25.52 and a 1-year high of $43.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.48 and a quick ratio of 3.45. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.30 and a beta of 1.01. The stock has a 50 day simple moving average of $40.06 and a 200-day simple moving average of $35.36.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. The firm had revenue of $261.28 million during the quarter, compared to analysts’ expectations of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%. The business’s revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. On average, equities research analysts expect that Harmony Biosciences will post 3.79 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kumar Budur sold 35,852 shares of Harmony Biosciences stock in a transaction on Friday, September 18th. The shares were sold at an average price of $43.05, for a total value of $1,543,428.60. Following the transaction, the insider directly owned 13,115 shares in the company, valued at $564,600.75. This trade represents a 73.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 72,406 shares of company stock valued at $3,108,520. Company insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

Large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in shares of Harmony Biosciences by 166.7% during the third quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock worth $32,000 after acquiring an additional 510 shares during the period. Nykredit A S acquired a new position in Harmony Biosciences during the 2nd quarter worth approximately $33,000. Integrated Wealth Concepts LLC acquired a new position in Harmony Biosciences during the 2nd quarter worth approximately $65,000. Allworth Financial LP acquired a new position in Harmony Biosciences during the 2nd quarter worth approximately $71,000. Finally, State of Wyoming purchased a new position in shares of Harmony Biosciences during the 2nd quarter worth approximately $83,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial-stage pharmaceutical company focused on developing and marketing therapies for patients with rare neurological disorders. The company’s activities center on conditions that are often underserved by conventional treatment options, including sleep disorders and other central nervous system diseases.

Harmony’s principal product is WAKIX (pitolisant), an oral, non-scheduled medication that acts as a histamine-3 receptor antagonist/inverse agonist.