Brokerages Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Price Target at $45.63

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $45.25.

A number of research firms recently weighed in on HRMY. Oppenheimer restated an “outperform” rating and issued a $62.00 price target on shares of Harmony Biosciences in a research note on Monday, November 24th. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price objective on shares of Harmony Biosciences in a report on Monday, November 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Wall Street Zen upgraded shares of Harmony Biosciences from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Truist Financial lowered their price target on shares of Harmony Biosciences from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday.

Harmony Biosciences Stock Up 1.8%

Shares of HRMY stock opened at $38.55 on Wednesday. Harmony Biosciences has a 52-week low of $25.52 and a 52-week high of $40.93. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 0.40 and a beta of 0.84. The firm’s 50-day moving average is $36.19 and its 200-day moving average is $33.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.72 and a current ratio of 3.75.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%.The business had revenue of $239.46 million for the quarter, compared to analyst estimates of $222.68 million. Sell-side analysts predict that Harmony Biosciences will post 2.43 EPS for the current year.

Insider Buying and Selling at Harmony Biosciences

In related news, CEO Jeffrey M. Dayno sold 25,933 shares of Harmony Biosciences stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $40.11, for a total transaction of $1,040,172.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its position in shares of Harmony Biosciences by 4,185.2% in the second quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock valued at $37,000 after acquiring an additional 1,130 shares during the period. National Bank of Canada FI bought a new stake in Harmony Biosciences in the 3rd quarter valued at about $40,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Harmony Biosciences by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock valued at $70,000 after purchasing an additional 299 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Harmony Biosciences by 338.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,511 shares of the company’s stock worth $111,000 after purchasing an additional 2,711 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Harmony Biosciences during the second quarter worth approximately $120,000. Institutional investors own 86.23% of the company’s stock.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.