Harmony Biosciences’ (HRMY) “Neutral” Rating Reiterated at UBS Group

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “neutral” rating reaffirmed by UBS Group in a report issued on Wednesday,Benzinga reports. They presently have a $46.00 price objective on the stock, up from their prior price objective of $43.00. UBS Group’s price objective would suggest a potential upside of 21.28% from the company’s current price.

HRMY has been the subject of a number of other research reports. Zacks Research raised shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Oppenheimer reissued an “outperform” rating and set a $62.00 price objective on shares of Harmony Biosciences in a research report on Monday, November 24th. Mizuho raised their price target on Harmony Biosciences from $39.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, December 1st. Wall Street Zen raised Harmony Biosciences from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, HC Wainwright restated a “buy” rating on shares of Harmony Biosciences in a report on Wednesday, December 3rd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Harmony Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $45.63.

Harmony Biosciences Price Performance

Shares of NASDAQ:HRMY opened at $37.93 on Wednesday. The company’s fifty day moving average is $37.67 and its two-hundred day moving average is $34.30. The company has a market cap of $2.18 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 0.34 and a beta of 0.84. Harmony Biosciences has a 12-month low of $25.52 and a 12-month high of $40.87. The company has a quick ratio of 3.72, a current ratio of 3.75 and a debt-to-equity ratio of 0.18.

Insiders Place Their Bets

In related news, CEO Jeffrey M. Dayno sold 25,933 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $40.11, for a total transaction of $1,040,172.63. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Sandip Kapadia sold 3,746 shares of Harmony Biosciences stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $37.15, for a total value of $139,163.90. Following the transaction, the chief financial officer owned 24,521 shares in the company, valued at $910,955.15. This trade represents a 13.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 50,640 shares of company stock valued at $1,932,256 in the last ninety days. Company insiders own 23.60% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

Several hedge funds have recently bought and sold shares of HRMY. Amundi raised its stake in Harmony Biosciences by 115.6% during the first quarter. Amundi now owns 39,668 shares of the company’s stock worth $1,229,000 after acquiring an additional 21,266 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Harmony Biosciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock valued at $752,000 after purchasing an additional 984 shares during the last quarter. Empowered Funds LLC acquired a new position in Harmony Biosciences during the 1st quarter worth approximately $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Harmony Biosciences by 53.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company’s stock worth $3,166,000 after purchasing an additional 33,058 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its position in Harmony Biosciences by 12.2% in the second quarter. KLP Kapitalforvaltning AS now owns 25,800 shares of the company’s stock valued at $815,000 after buying an additional 2,800 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.