Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $41.67

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $41.67.

A number of research analysts recently commented on HRMY shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $49.00 price target on shares of Harmony Biosciences in a report on Friday, April 12th. Citigroup initiated coverage on Harmony Biosciences in a research report on Friday, June 21st. They issued a “buy” rating and a $48.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Tuesday.

Harmony Biosciences Stock Performance

NASDAQ:HRMY opened at $32.83 on Wednesday. The firm has a 50-day moving average of $31.41 and a two-hundred day moving average of $31.34. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.11 and a quick ratio of 3.07. The stock has a market cap of $1.86 billion, a P/E ratio of 14.21, a PEG ratio of 0.81 and a beta of 0.72. Harmony Biosciences has a 1-year low of $18.61 and a 1-year high of $39.26.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors have recently modified their holdings of the company. Quest Partners LLC boosted its stake in Harmony Biosciences by 242.1% during the 2nd quarter. Quest Partners LLC now owns 15,034 shares of the company’s stock valued at $454,000 after purchasing an additional 10,639 shares during the period. LSV Asset Management raised its holdings in shares of Harmony Biosciences by 72.5% during the second quarter. LSV Asset Management now owns 578,246 shares of the company’s stock valued at $17,446,000 after buying an additional 243,100 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Harmony Biosciences by 54.1% in the 2nd quarter. Victory Capital Management Inc. now owns 84,964 shares of the company’s stock worth $2,563,000 after buying an additional 29,816 shares in the last quarter. Versor Investments LP acquired a new position in shares of Harmony Biosciences during the second quarter valued at $549,000. Finally, nVerses Capital LLC bought a new stake in Harmony Biosciences during the second quarter worth approximately $36,000. Institutional investors own 86.23% of the company’s stock.

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.