Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $55.00

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have received an average recommendation of “Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have covered the stock in the last year is $53.67.

Several equities analysts have commented on HRMY shares. Needham & Company LLC lowered their price objective on Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday. Cantor Fitzgerald raised their price objective on 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 reaffirmed a “buy” rating and issued a $75.00 price target on shares of Harmony Biosciences in a research report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price target for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th.

Harmony Biosciences Stock Performance

Shares of Harmony Biosciences stock opened at $34.56 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1.97 billion, a P/E ratio of 16.38, a P/E/G ratio of 0.47 and a beta of 0.80. The business has a fifty day simple moving average of $36.57 and a two-hundred day simple moving average of $35.79. Harmony Biosciences has a 12 month low of $28.14 and a 12 month high of $41.61.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Jeffrey Dierks sold 10,507 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total value of $388,864.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandip Kapadia sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total value of $1,004,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. purchased a new position in Harmony Biosciences in the 4th quarter worth about $41,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Harmony Biosciences by 1.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,331 shares of the company’s stock valued at $2,145,000 after purchasing an additional 678 shares during the period. Voloridge Investment Management LLC grew its stake in shares of Harmony Biosciences by 24.4% during the 4th quarter. Voloridge Investment Management LLC now owns 356,072 shares of the company’s stock valued at $12,252,000 after purchasing an additional 69,886 shares during the period. Vident Advisory LLC grew its stake in shares of Harmony Biosciences by 17.9% during the 4th quarter. Vident Advisory LLC now owns 16,426 shares of the company’s stock valued at $565,000 after purchasing an additional 2,493 shares during the period. Finally, Virtus Investment Advisers Inc. bought a new stake in shares of Harmony Biosciences during the 4th quarter valued at about $124,000. Hedge funds and other 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.