Piper Sandler Begins Coverage on Harmony Biosciences (NASDAQ:HRMY)

Piper Sandler began coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a research note issued to investors on Monday, Benzinga reports. The brokerage issued an overweight rating and a $61.00 target price on the stock. Piper Sandler also issued estimates for Harmony Biosciences’ Q3 2020 earnings at ($0.12) EPS, Q4 2020 earnings at ($0.09) EPS, Q1 2021 earnings at $0.01 EPS, Q2 2021 earnings at $0.20 EPS, Q3 2021 earnings at $0.39 EPS, Q4 2021 earnings at $0.50 EPS, FY2021 earnings at $1.11 EPS, Q1 2022 earnings at $0.61 EPS, Q2 2022 earnings at $0.75 EPS, FY2022 earnings at $3.00 EPS, FY2023 earnings at $3.90 EPS and FY2024 earnings at $4.37 EPS.

Separately, Goldman Sachs Group assumed coverage on Harmony Biosciences in a report on Sunday. They set a neutral rating and a $43.00 target price on the stock.

Harmony Biosciences stock opened at $36.48 on Monday. Harmony Biosciences has a 52 week low of $31.88 and a 52 week high of $47.37.

In other Harmony Biosciences news, Director Jack Nielsen acquired 2,736 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were bought at an average cost of $35.00 per share, with a total value of $95,760.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings A/S Novo bought 132,503 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was purchased at an average price of $24.00 per share, for a total transaction of $3,180,072.00. Following the transaction, the insider now owns 4,277,300 shares of the company’s stock, valued at $102,655,200. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 138,296 shares of company stock worth $3,380,687.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients living with rare neurological disorders. Its lead product includes WAKIX (pitolisant) for the treatment of pediatric patients suffering from narcolepsy. Harmony Biosciences Holdings, Inc was formerly known as Harmony Biosciences II, Inc and changed its name to Harmony Biosciences Holdings, Inc in February 2020.

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