Mizuho Has Lowered Expectations for Harmony Biosciences (NASDAQ:HRMY) Stock Price

Harmony Biosciences (NASDAQ:HRMY) had its price target dropped by analysts at Mizuho from $52.00 to $42.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 21.53% from the company’s current price.

Several other research analysts have also recently issued reports on HRMY. HC Wainwright reiterated a “buy” rating and issued a $75.00 price objective on shares of Harmony Biosciences in a report on Wednesday. Needham & Company LLC decreased their price target on Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price objective on the stock. Cantor Fitzgerald upped their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Harmony Biosciences has an average rating of “Buy” and a consensus target price of $53.67.

Harmony Biosciences Stock Performance

Shares of HRMY opened at $34.56 on Thursday. The firm has a market capitalization of $1.97 billion, a PE ratio of 16.38, a P/E/G ratio of 0.47 and a beta of 0.80. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $36.53 and a 200 day moving average price of $35.74. Harmony Biosciences has a 52-week low of $28.14 and a 52-week high of $41.61.

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 1,629 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $38.02, for a total transaction of $61,934.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandip Kapadia sold 25,000 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total transaction of $1,004,500.00. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock worth $2,831,679 in the last quarter. 30.80% of the stock is owned by company insiders.

Institutional Trading of Harmony Biosciences

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after buying an additional 436 shares in the last quarter. Mendota Financial Group LLC boosted its position in Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after acquiring an additional 965 shares during the period. GF Fund Management CO. LTD. purchased a new position in Harmony Biosciences during the 4th quarter valued at about $41,000. CWM LLC increased its holdings in shares of Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after purchasing an additional 775 shares during the period. Finally, KBC Group NV lifted its position in shares of Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after purchasing an additional 819 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

About Harmony Biosciences

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.