Harmony Biosciences (NASDAQ:HRMY) Shares Gap Up to $29.25

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) gapped up before the market opened on Tuesday . The stock had previously closed at $29.25, but opened at $31.65. Harmony Biosciences shares last traded at $33.42, with a volume of 677,286 shares.

Wall Street Analyst Weigh In

HRMY has been the subject of a number of research reports. Bank of America reissued an “underperform” rating and set a $30.00 target price on shares of Harmony Biosciences in a research note on Tuesday, January 2nd. The Goldman Sachs Group increased their target price on Harmony Biosciences from $25.00 to $28.00 and gave the stock a “sell” rating in a research note on Tuesday, January 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $49.00 target price on shares of Harmony Biosciences in a research note on Friday, April 12th. Mizuho lowered their target price on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Harmony Biosciences in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.63.

Harmony Biosciences Trading Up 11.9 %

The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.72 and a current ratio of 2.75. The business has a 50-day simple moving average of $31.28 and a two-hundred day simple moving average of $29.94. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 0.41 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.29). The company had revenue of $168.40 million during the quarter, compared to analyst estimates of $168.90 million. Harmony Biosciences had a net margin of 22.16% and a return on equity of 27.49%. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. As a group, research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3 EPS for the current year.

Insider Activity

In other news, insider Jeffrey Dierks sold 11,979 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $32.00, for a total value of $383,328.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 30.80% 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. TFO Wealth Partners LLC boosted its holdings in shares of Harmony Biosciences by 98,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock valued at $32,000 after buying an additional 987 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Harmony Biosciences by 47.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $33,000 after buying an additional 329 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Harmony Biosciences by 95.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock valued at $50,000 after buying an additional 748 shares during the last quarter. Oakworth Capital Inc. acquired a new stake in shares of Harmony Biosciences in the 3rd quarter valued at approximately $150,000. Finally, ELCO Management Co. LLC acquired a new stake in Harmony Biosciences during the 3rd quarter valued at $210,000. Institutional investors and hedge funds 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.