Harmony Biosciences (NASDAQ:HRMY) Now Covered by Analysts at LADENBURG THALM/SH SH

Research analysts at LADENBURG THALM/SH SH initiated coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a report issued on Thursday, Briefing.com reports. The firm set a “buy” rating and a $55.00 price target on the stock. LADENBURG THALM/SH SH’s price objective would indicate a potential upside of 46.63% from the stock’s current price.

HRMY has been the topic of several other research reports. Wall Street Zen raised Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Wolfe Research started coverage on shares of Harmony Biosciences in a research note on Wednesday, August 26th. They issued an “outperform” rating and a $60.00 target price for the company. Zacks Research downgraded Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Truist Financial upped their target price on shares of Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $42.00 target price on shares of Harmony Biosciences in a research report on Thursday, October 1st. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Harmony Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $48.20.

Harmony Biosciences Stock Up 1.3%

Shares of Harmony Biosciences stock opened at $37.51 on Thursday. The company has a market capitalization of $2.18 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.29 and a beta of 1.01. The company has a 50 day moving average of $40.08 and a 200 day moving average of $35.26. Harmony Biosciences has a 52-week low of $25.52 and a 52-week high of $43.49. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.32. The firm had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The company’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, research analysts forecast that Harmony Biosciences will post 3.79 EPS for the current fiscal year.

Insider Activity at Harmony Biosciences

In other news, insider Kumar Budur sold 35,852 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $43.05, for a total transaction of $1,543,428.60. Following the completion of the transaction, the insider directly owned 13,115 shares of the company’s stock, valued at $564,600.75. This trade represents a 73.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 72,406 shares of company stock valued at $3,108,520 in the last quarter. 11.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of HRMY. IFP Advisors Inc increased its position in Harmony Biosciences by 4.6% during the second quarter. IFP Advisors Inc now owns 8,102 shares of the company’s stock worth $295,000 after buying an additional 353 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Harmony Biosciences by 166.7% in 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 last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Harmony Biosciences by 3.8% in the first quarter. Illinois Municipal Retirement Fund now owns 20,020 shares of the company’s stock worth $561,000 after acquiring an additional 727 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Harmony Biosciences by 4.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,566 shares of the company’s stock valued at $640,000 after acquiring an additional 787 shares in the last quarter. Finally, Nykredit A S purchased a new stake in shares of Harmony Biosciences in the second quarter valued at $33,000. 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.