Harmony Biosciences (NASDAQ:HRMY) Price Target Raised to $60.00

Harmony Biosciences (NASDAQ:HRMYGet Rating) had its price target hoisted by Raymond James from $58.00 to $60.00 in a research report report published on Wednesday, Benzinga reports. Raymond James currently has an outperform rating on the stock.

Several other research analysts also recently weighed in on the stock. The Goldman Sachs Group downgraded shares of Harmony Biosciences from a buy rating to a neutral rating and set a $55.00 target price for the company. in a research note on Tuesday, July 12th. Oppenheimer boosted their target price on shares of Harmony Biosciences from $62.00 to $67.00 and gave the company an outperform rating in a research note on Wednesday. Mizuho cut their target price on shares of Harmony Biosciences from $64.00 to $60.00 and set a buy rating for the company in a research note on Thursday. Cantor Fitzgerald initiated coverage on shares of Harmony Biosciences in a research note on Thursday, April 14th. They issued an overweight rating and a $63.00 target price for the company. Finally, Jefferies Financial Group downgraded shares of Harmony Biosciences from a buy rating to a hold rating and set a $57.00 target price for the company. in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $59.86.

Harmony Biosciences Trading Up 0.3 %

NASDAQ:HRMY opened at $52.50 on Wednesday. The company has a market capitalization of $3.10 billion, a PE ratio of 55.26 and a beta of 0.33. The company has a quick ratio of 4.88, a current ratio of 4.91 and a debt-to-equity ratio of 0.77. Harmony Biosciences has a 52-week low of $26.25 and a 52-week high of $57.13. The stock has a fifty day simple moving average of $49.55 and a 200-day simple moving average of $45.07.

Harmony Biosciences (NASDAQ:HRMYGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.05). Harmony Biosciences had a return on equity of 60.12% and a net margin of 15.95%. During the same period last year, the company posted $0.54 EPS. On average, equities research analysts expect that Harmony Biosciences will post 1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, CEO John C. Jacobs sold 15,000 shares of Harmony Biosciences stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $45.42, for a total value of $681,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jack Nielsen sold 11,038 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $52.04, for a total transaction of $574,417.52. Following the completion of the sale, the director now owns 3,732,747 shares in the company, valued at approximately $194,252,153.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John C. Jacobs sold 15,000 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $45.42, for a total value of $681,300.00. The disclosure for this sale can be found here. Insiders sold 502,307 shares of company stock worth $26,998,410 in the last 90 days. 34.70% of the stock is owned by company insiders.

Institutional Trading of Harmony Biosciences

A number of institutional investors have recently modified their holdings of HRMY. Russell Investments Group Ltd. grew its holdings in shares of Harmony Biosciences by 39.5% during the 4th quarter. Russell Investments Group Ltd. now owns 8,193 shares of the company’s stock worth $348,000 after purchasing an additional 2,321 shares during the period. New York State Teachers Retirement System acquired a new position in Harmony Biosciences during the 4th quarter worth approximately $292,000. Allspring Global Investments Holdings LLC acquired a new position in Harmony Biosciences during the 4th quarter worth approximately $421,000. Yousif Capital Management LLC acquired a new position in Harmony Biosciences during the 4th quarter worth approximately $860,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Harmony Biosciences during the 4th quarter worth approximately $185,000. Hedge funds and other institutional investors own 75.62% of the company’s stock.

About Harmony Biosciences

(Get Rating)

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, develops and commercializes therapies for patients with rare neurological disorders in the United States. Its product, WAKIX is a medication for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.

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