Harmony Biosciences (NASDAQ:HRMY) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a research report released on Thursday, Benzinga reports. They currently have a $49.00 target price on the stock.

A number of other equities analysts also recently commented on HRMY. Bank of America reiterated an underperform rating and issued a $30.00 target price on shares of Harmony Biosciences in a report on Tuesday, January 2nd. The Goldman Sachs Group boosted their target price on shares of Harmony Biosciences from $25.00 to $28.00 and gave the stock a sell rating in a report on Tuesday, January 9th. Needham & Company LLC reiterated a buy rating and issued a $53.00 target price on shares of Harmony Biosciences in a report on Thursday, February 22nd. Finally, Mizuho dropped their price target on Harmony Biosciences from $42.00 to $40.00 and set a buy rating on the stock in a research note on Tuesday, February 27th. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Harmony Biosciences presently has a consensus rating of Moderate Buy and an average target price of $41.00.

Harmony Biosciences Stock Performance

HRMY stock opened at $33.58 on Thursday. 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 business has a 50-day moving average price of $32.20 and a 200 day moving average price of $30.66. The company has a market capitalization of $1.91 billion, a P/E ratio of 15.84, a PEG ratio of 0.45 and a beta of 0.72. Harmony Biosciences has a 1-year low of $18.61 and a 1-year high of $39.26.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data 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 the consensus estimate of $168.90 million. Harmony Biosciences had a net margin of 22.16% and a return on equity of 27.49%. The business’s revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, equities research analysts forecast that Harmony Biosciences will post 3 EPS for the current fiscal year.

Insider Activity

In related news, insider Jeffrey Dierks sold 11,979 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $32.00, for a total value of $383,328.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. TFO Wealth Partners LLC increased its holdings in Harmony Biosciences by 98,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock worth $32,000 after buying an additional 987 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Harmony Biosciences by 47.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after purchasing an additional 329 shares during the period. State of Wyoming grew its stake in shares of Harmony Biosciences by 91.6% during the 4th quarter. State of Wyoming now owns 1,462 shares of the company’s stock worth $81,000 after purchasing an additional 699 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Harmony Biosciences by 95.3% during the 3rd 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 during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Harmony Biosciences during the 2nd quarter worth approximately $61,000. Institutional investors and hedge funds 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.