Harmony Biosciences (NASDAQ:HRMY) Price Target Cut to $42.00 by Analysts at Mizuho

Harmony Biosciences (NASDAQ:HRMY) had its price objective dropped by equities research analysts at Mizuho from $52.00 to $42.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 21.53% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price objective on the stock. Cantor Fitzgerald raised their price target on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Needham & Company LLC lowered their target price on shares of Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of Harmony Biosciences in a research report on Wednesday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $53.67.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $34.56 on Thursday. Harmony Biosciences has a fifty-two week low of $28.14 and a fifty-two week high of $41.61. The stock’s 50-day moving average is $36.53 and its two-hundred day moving average is $35.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The firm has a market cap of $1.97 billion, a P/E ratio of 16.38, a PEG ratio of 0.47 and a beta of 0.80.

Insider Buying and Selling at Harmony Biosciences

In related news, 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 transaction of $1,004,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Dierks sold 1,629 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $38.02, for a total value of $61,934.58. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock worth $2,831,679 over the last ninety days. Company insiders own 30.80% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after purchasing an additional 436 shares in the last quarter. Mendota Financial Group LLC raised its holdings in shares of Harmony Biosciences by 24,125.0% in the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after buying an additional 965 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Harmony Biosciences during the 4th quarter worth approximately $41,000. CWM LLC boosted its stake in Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after buying an additional 775 shares in the last quarter. Finally, KBC Group NV grew its position in Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after acquiring an additional 819 shares during the period. 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.