Harmony Biosciences (NASDAQ:HRMY) PT Raised to $62.00 at Oppenheimer

Harmony Biosciences (NASDAQ:HRMYGet Rating) had its target price hoisted by investment analysts at Oppenheimer from $55.00 to $62.00 in a research report issued on Wednesday, The Fly reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 27.13% from the stock’s previous close.

Separately, Cantor Fitzgerald initiated coverage on shares of Harmony Biosciences in a report on Thursday, April 14th. They set an “overweight” rating and a $63.00 price target for the company.

NASDAQ:HRMY opened at $48.77 on Wednesday. The company has a 50-day moving average of $43.50 and a 200-day moving average of $42.85. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 60.96 and a beta of 0.63. Harmony Biosciences has a 52 week low of $25.09 and a 52 week high of $54.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.88 and a current ratio of 4.96.

Harmony Biosciences (NASDAQ:HRMYGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.26. The company had revenue of $85.31 million during the quarter, compared to the consensus estimate of $87.77 million. Harmony Biosciences had a net margin of 14.71% and a return on equity of 69.07%. During the same period last year, the firm earned $0.38 EPS. Sell-side analysts forecast that Harmony Biosciences will post 1.69 EPS for the current year.

In other Harmony Biosciences news, CEO John C. Jacobs sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $44.18, for a total value of $1,104,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack Nielsen sold 1,027 shares of the firm’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $50.00, for a total transaction of $51,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 212,025 shares of company stock valued at $10,719,413 over the last three months. 34.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of HRMY. Renaissance Technologies LLC increased its position in Harmony Biosciences by 233.9% in the 3rd quarter. Renaissance Technologies LLC now owns 39,400 shares of the company’s stock valued at $1,510,000 after acquiring an additional 27,600 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Harmony Biosciences in the 3rd quarter valued at about $1,395,000. Marshall Wace LLP acquired a new stake in Harmony Biosciences in the 3rd quarter valued at about $570,000. Man Group plc acquired a new stake in Harmony Biosciences in the 3rd quarter valued at about $239,000. Finally, Comerica Bank acquired a new stake in shares of Harmony Biosciences during the 3rd quarter worth approximately $3,934,000. 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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