Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $40.63 Average PT from Brokerages

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have received a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $40.63.

A number of research analysts have recently commented on HRMY shares. Cantor Fitzgerald reissued an “overweight” rating and set a $49.00 price target on shares of Harmony Biosciences in a report on Friday, April 12th. Bank of America reissued an “underperform” rating and set a $30.00 price target on shares of Harmony Biosciences in a report on Tuesday, January 2nd. The Goldman Sachs Group raised their price target on Harmony Biosciences from $25.00 to $28.00 and gave the company a “sell” rating in a report on Tuesday, January 9th. Mizuho lowered their price target on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Harmony Biosciences in a report on Tuesday, April 9th.

Insider Buying and Selling

In related news, insider Jeffrey Dierks sold 11,979 shares of Harmony Biosciences stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $32.00, for a total transaction of $383,328.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 30.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC boosted its position in shares of Harmony Biosciences by 0.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 40,889 shares of the company’s stock valued at $1,321,000 after purchasing an additional 328 shares during the period. Quadrant Capital Group LLC boosted its position 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 purchasing an additional 329 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Harmony Biosciences by 1.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock valued at $1,184,000 after purchasing an additional 397 shares during the period. Maryland State Retirement & Pension System boosted its position in shares of Harmony Biosciences by 6.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 12,376 shares of the company’s stock valued at $406,000 after purchasing an additional 697 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Harmony Biosciences by 7.5% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 10,026 shares of the company’s stock valued at $329,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $29.32 on Monday. Harmony Biosciences has a 1-year low of $18.61 and a 1-year high of $39.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.75 and a quick ratio of 2.72. The business’s fifty day moving average price is $31.37 and its two-hundred day moving average price is $29.98. The firm has a market capitalization of $1.67 billion, a PE ratio of 13.83, a P/E/G ratio of 0.41 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Thursday, February 22nd. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.29). Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The company had revenue of $168.40 million during the quarter, compared to analyst estimates of $168.90 million. During the same period in the prior year, the business earned $1.01 earnings per share. Harmony Biosciences’s quarterly revenue was up 31.3% on a year-over-year basis. On average, research analysts expect that Harmony Biosciences will post 3 EPS for the current year.

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.