Harmony Biosciences (NASDAQ:HRMY) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $55.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 44.77% from the stock’s current price.

A number of other research firms have also recently issued reports on HRMY. HC Wainwright reissued a “buy” rating and set a $75.00 target price on shares of Harmony Biosciences in a research note on Monday, January 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Monday, January 13th. Cantor Fitzgerald upped their price target on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $55.00.

Harmony Biosciences Price Performance

NASDAQ HRMY opened at $37.99 on Tuesday. The business has a 50 day simple moving average of $35.77 and a 200 day simple moving average of $35.50. Harmony Biosciences has a 52-week low of $28.14 and a 52-week high of $41.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 0.51 and a beta of 0.80.

Insider Activity

In other Harmony Biosciences news, CFO Sandip Kapadia sold 25,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Dierks sold 10,507 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $37.01, for a total value of $388,864.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Harmony Biosciences

Several hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its position in Harmony Biosciences by 18.2% during the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock worth $78,452,000 after buying an additional 351,582 shares during the period. Massachusetts Financial Services Co. MA increased its position in Harmony Biosciences by 27.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock worth $26,416,000 after buying an additional 140,690 shares during the period. Charles Schwab Investment Management Inc. increased its position in Harmony Biosciences by 27.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,028 shares of the company’s stock worth $16,242,000 after buying an additional 100,586 shares during the period. Capital Management Corp VA increased its position in Harmony Biosciences by 43.5% during the 4th quarter. Capital Management Corp VA now owns 340,960 shares of the company’s stock worth $11,732,000 after buying an additional 103,308 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Harmony Biosciences by 13.8% during the 4th quarter. Bank of New York Mellon Corp now owns 265,639 shares of the company’s stock worth $9,141,000 after buying an additional 32,272 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

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.