Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY – Get Free Report)’s share price was down 2.9% during mid-day trading on Tuesday . The company traded as low as $29.53 and last traded at $29.53. Approximately 16,624 shares traded hands during trading, a decline of 96% from the average daily volume of 380,261 shares. The stock had previously closed at $30.42.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on HRMY shares. Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Monday, June 24th. Citigroup assumed coverage on shares of Harmony Biosciences in a research report on Friday, June 21st. They set a “buy” rating and a $48.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $49.00 target price on shares of Harmony Biosciences in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.67.
View Our Latest Stock Analysis on HRMY
Harmony Biosciences Trading Down 3.9 %
Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. Harmony Biosciences had a return on equity of 28.26% and a net margin of 22.30%. The firm had revenue of $154.62 million during the quarter, compared to the consensus estimate of $154.10 million. During the same period last year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, research analysts expect that Harmony Biosciences Holdings, Inc. will post 1.96 EPS for the current year.
Institutional Investors Weigh In On Harmony Biosciences
A number of hedge funds and other institutional investors have recently bought and sold shares of HRMY. TFO Wealth Partners LLC lifted its holdings in Harmony Biosciences by 98,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock valued at $32,000 after acquiring an additional 987 shares during the period. Quadrant Capital Group LLC increased its position in shares of Harmony Biosciences by 47.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $33,000 after buying an additional 329 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Harmony Biosciences by 98.3% in the first quarter. Lazard Asset Management LLC now owns 4,542 shares of the company’s stock valued at $152,000 after buying an additional 2,251 shares in the last quarter. ELCO Management Co. LLC purchased a new position in shares of Harmony Biosciences in the third quarter valued at $210,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Harmony Biosciences in the fourth quarter valued at $210,000. 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.
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