Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $37.46, but opened at $39.15. Harmony Biosciences shares last traded at $38.91, with a volume of 2,024 shares traded.
Several research firms have weighed in on HRMY. Needham & Company LLC began coverage on shares of Harmony Biosciences in a research note on Wednesday. They issued a “buy” rating and a $57.00 price target for the company. Zacks Investment Research raised shares of Harmony Biosciences from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, August 11th.
The stock has a market capitalization of $2.15 billion and a P/E ratio of 163.65. The firm’s 50 day moving average price is $32.52 and its 200 day moving average price is $30.91. The company has a debt-to-equity ratio of 1.55, a current ratio of 5.59 and a quick ratio of 5.46.
In other Harmony Biosciences news, insider Jeffrey M. Dayno sold 9,950 shares of the company’s stock in a transaction dated Tuesday, August 10th. The shares were sold at an average price of $30.21, for a total value of $300,589.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jeffrey Dierks sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $37.00, for a total transaction of $185,000.00. Following the completion of the sale, the insider now owns 10,000 shares in the company, valued at approximately $370,000. The disclosure for this sale can be found here. Insiders have sold 42,159 shares of company stock worth $1,460,926 in the last quarter. 28.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Nan Fung Group Holdings Ltd bought a new position in shares of Harmony Biosciences in the second quarter worth approximately $21,701,000. Morgan Stanley lifted its stake in shares of Harmony Biosciences by 101.7% in the second quarter. Morgan Stanley now owns 128,756 shares of the company’s stock worth $3,634,000 after buying an additional 64,929 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Harmony Biosciences by 41.4% in the second quarter. Wells Fargo & Company MN now owns 9,761 shares of the company’s stock worth $276,000 after buying an additional 2,857 shares in the last quarter. Perceptive Advisors LLC lifted its stake in shares of Harmony Biosciences by 57.6% in the second quarter. Perceptive Advisors LLC now owns 491,332 shares of the company’s stock worth $13,870,000 after buying an additional 179,659 shares in the last quarter. Finally, Invesco Ltd. bought a new position in shares of Harmony Biosciences in the second quarter worth approximately $213,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.
About Harmony Biosciences (NASDAQ:HRMY)
Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, develops and commercializes therapies for patients with rare neurological disorders. Its product, WAKIX is a medication for the treatment of excessive daytime sleepiness in adult patients with narcolepsy in the United States.
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