Oppenheimer Increases Harmony Biosciences (NASDAQ:HRMY) Price Target to $67.00

Harmony Biosciences (NASDAQ:HRMYGet Rating) had its price target lifted by equities researchers at Oppenheimer from $62.00 to $67.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 27.96% from the company’s previous close. Oppenheimer also issued estimates for Harmony Biosciences’ Q4 2022 earnings at $0.43 EPS, Q1 2023 earnings at $0.41 EPS, Q2 2023 earnings at $0.56 EPS, Q3 2023 earnings at $0.60 EPS and Q4 2023 earnings at $0.66 EPS.

Several other research firms also recently weighed in on HRMY. Cantor Fitzgerald started coverage on shares of Harmony Biosciences in a research note on Thursday, April 14th. They set an “overweight” rating and a $63.00 price target for the company. Mizuho decreased their price target 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. The Goldman Sachs Group downgraded shares of Harmony Biosciences from a “buy” rating to a “neutral” rating and set a $55.00 price target for the company. in a research note on Tuesday, July 12th. Finally, Jefferies Financial Group downgraded shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $57.00 price objective for the company. in a research note on Wednesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.86.

Harmony Biosciences Stock Up 0.1 %

Shares of NASDAQ HRMY opened at $52.36 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.91 and a quick ratio of 4.88. The company has a market cap of $3.09 billion, a P/E ratio of 55.12 and a beta of 0.33. Harmony Biosciences has a 1 year low of $26.06 and a 1 year high of $57.13. The firm has a 50-day simple moving average of $49.37 and a two-hundred day simple moving average of $44.94.

Harmony Biosciences (NASDAQ:HRMYGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.05). Harmony Biosciences had a net margin of 15.95% and a return on equity of 60.12%. During the same quarter in the prior year, the company posted $0.54 EPS. Research analysts anticipate that Harmony Biosciences will post 1.69 earnings per share for the current year.

Insiders Place Their Bets

In other Harmony Biosciences news, Director Jack Nielsen sold 75,117 shares of Harmony Biosciences stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $55.22, for a total value of $4,147,960.74. Following the transaction, the director now directly owns 3,300,261 shares of the company’s stock, valued at $182,240,412.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO John C. Jacobs sold 25,000 shares of the business’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $44.18, for a total transaction of $1,104,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jack Nielsen sold 75,117 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $55.22, for a total transaction of $4,147,960.74. Following the sale, the director now directly owns 3,300,261 shares in the company, valued at $182,240,412.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 489,667 shares of company stock valued at $26,332,662. 34.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Harmony Biosciences

Large investors have recently made changes to their positions in the stock. Catalyst Capital Advisors LLC purchased a new stake in shares of Harmony Biosciences during the first quarter valued at $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Harmony Biosciences during the first quarter valued at $74,000. Acadian Asset Management LLC purchased a new stake in shares of Harmony Biosciences during the fourth quarter valued at $84,000. KBC Group NV acquired a new position in Harmony Biosciences during the second quarter valued at $98,000. Finally, Mutual of America Capital Management LLC acquired a new position in Harmony Biosciences during the fourth quarter valued at $133,000. 75.62% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Company Profile

(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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