Harmony Biosciences (NASDAQ:HRMY) Earns “Buy” Rating from HC Wainwright

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $55.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 89.33% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Mizuho set a $50.00 target price on Harmony Biosciences in a report on Thursday, February 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of Harmony Biosciences in a research note on Monday, November 24th. UBS Group cut shares of Harmony Biosciences from a “buy” rating to a “neutral” rating and increased their target price for the stock from $43.00 to $46.00 in a report on Wednesday, February 11th. Zacks Research upgraded shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Harmony Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.67.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY opened at $29.05 on Wednesday. The firm has a market cap of $1.68 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 0.39 and a beta of 0.84. The firm’s 50 day simple moving average is $36.19 and its 200-day simple moving average is $34.12. Harmony Biosciences has a one year low of $25.52 and a one year high of $40.87. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.72 and a current ratio of 3.60.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.46). Harmony Biosciences had a net margin of 18.29% and a return on equity of 19.86%. The firm had revenue of $243.78 million during the quarter, compared to analysts’ expectations of $240.04 million. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, equities analysts predict that Harmony Biosciences will post 2.43 EPS for the current year.

Insider Buying and Selling

In other Harmony Biosciences news, CFO Sandip Kapadia sold 20,961 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $35.92, for a total transaction of $752,919.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey M. Dayno sold 25,933 shares of Harmony Biosciences 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 SEC filing for this sale provides additional information. Insiders have sold a total of 50,640 shares of company stock worth $1,932,256 in the last 90 days. 23.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Invesco Ltd. raised its stake in shares of Harmony Biosciences by 11.8% in the fourth quarter. Invesco Ltd. now owns 450,805 shares of the company’s stock worth $16,869,000 after purchasing an additional 47,517 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Harmony Biosciences in the 4th quarter worth approximately $525,000. State of Tennessee Department of Treasury raised its position in Harmony Biosciences by 37.0% during the 4th quarter. State of Tennessee Department of Treasury now owns 36,150 shares of the company’s stock worth $1,320,000 after buying an additional 9,768 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Harmony Biosciences during the 4th quarter valued at approximately $1,529,000. Finally, Empowered Funds LLC lifted its stake in Harmony Biosciences by 56.9% during the 4th quarter. Empowered Funds LLC now owns 85,153 shares of the company’s stock valued at $3,186,000 after acquiring an additional 30,882 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Harmony Biosciences

Here are the key news stories impacting Harmony Biosciences this week:

• Positive Sentiment: HC Wainwright reaffirmed its “buy” rating and kept a $55 price target, signaling strong upside from current levels and providing bullish support for long investors. HC Wainwright Reaffirms Buy
• Positive Sentiment: Needham & Company maintained a “buy” rating and a $44 target after a small cut, which keeps another buy-side endorsement in the tape and supports demand from growth-oriented investors. Needham Buy Rating
• Neutral Sentiment: UBS trimmed its price target from $46 to $36 and set a “neutral” rating — a meaningful reduction in upside but not a sell call, which may temper enthusiasm without forcing broad liquidation. UBS Lowers PT to $36
• Neutral Sentiment: An analyst-aggregate report shows an average rating of “Moderate Buy,” indicating mixed but overall constructive analyst sentiment that can limit downside from negative headlines. Analyst Average Rating
• Negative Sentiment: Truist Securities downgraded HRMY to “Hold” after developments in a patent trial, flagging increased legal/competitive risk that could pressure future revenue or margins if adverse outcomes persist. Truist Downgrade After Patent Trial
• Negative Sentiment: Bank of America cut its price target to $28 and moved to an “underperform” rating, which is explicitly bearish and adds selling pressure from institutional accounts that follow BofA coverage. BofA Lowers PT to $28

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.