Harmony Biosciences (NASDAQ:HRMY) Stock Rating Lowered by Zacks Investment Research

Harmony Biosciences (NASDAQ:HRMYGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Harmony Biosciences Holdings Inc.is a pharmaceutical company. It engages in developing and commercializing therapies for rare neurological disorders. Harmony Biosciences Holdings Inc.is based in Plymouth Meeting, Pennsylvania. “

Separately, Cantor Fitzgerald began 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 on the stock. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $52.60.

NASDAQ HRMY opened at $33.54 on Tuesday. Harmony Biosciences has a 1 year low of $25.09 and a 1 year high of $54.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.96 and a quick ratio of 5.21. The stock has a market capitalization of $1.98 billion, a PE ratio of 41.93 and a beta of 0.62. The company’s 50 day simple moving average is $46.88 and its two-hundred day simple moving average is $41.80.

Harmony Biosciences (NASDAQ:HRMYGet Rating) last posted its earnings results on Tuesday, May 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.22. Harmony Biosciences had a net margin of 14.71% and a return on equity of 69.07%. During the same period in the previous year, the firm posted $0.38 EPS. On average, research analysts anticipate that Harmony Biosciences will post 1.36 EPS for the current year.

In other Harmony Biosciences news, Director Andreas Wicki sold 175,000 shares of the firm’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $41.01, for a total value of $7,176,750.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack Nielsen sold 30,177 shares of the firm’s stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $52.14, for a total transaction of $1,573,428.78. Following the completion of the sale, the director now directly owns 3,854,335 shares in the company, valued at approximately $200,965,026.90. The disclosure for this sale can be found here. In the last three months, insiders sold 685,752 shares of company stock worth $30,841,465. Insiders own 34.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in HRMY. Advisor Group Holdings Inc. boosted its stake in shares of Harmony Biosciences by 352.2% during the 4th quarter. Advisor Group Holdings Inc. now owns 615 shares of the company’s stock valued at $28,000 after purchasing an additional 479 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Harmony Biosciences by 242.2% during the 2nd quarter. Royal Bank of Canada now owns 2,293 shares of the company’s stock valued at $65,000 after purchasing an additional 1,623 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Harmony Biosciences during the 1st quarter valued at about $74,000. Acadian Asset Management LLC bought a new stake in shares of Harmony Biosciences during the 4th quarter valued at about $84,000. Finally, Citigroup Inc. boosted its stake in shares of Harmony Biosciences by 36.6% during the 3rd quarter. Citigroup Inc. now owns 2,931 shares of the company’s stock valued at $112,000 after purchasing an additional 785 shares in the last quarter. 75.62% of the stock is currently owned by hedge funds and other institutional investors.

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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