Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $45.50

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned a consensus rating of “Hold” from the eleven ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $47.1111.

A number of equities research analysts recently commented on the company. UBS Group restated a “neutral” rating and set a $37.00 price target on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Wolfe Research initiated coverage on Harmony Biosciences in a research report on Wednesday. They issued an “outperform” rating and a $60.00 price objective for the company. Zacks Research cut Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $39.00 target price on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Finally, Needham & Company LLC lifted their price target on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, August 4th.

Institutional Investors Weigh In On Harmony Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HRMY. Amundi lifted its position in shares of Harmony Biosciences by 31.1% during the second quarter. Amundi now owns 16,131 shares of the company’s stock worth $587,000 after purchasing an additional 3,823 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Harmony Biosciences in the second quarter valued at approximately $1,656,000. California State Teachers Retirement System increased its holdings in shares of Harmony Biosciences by 3,455.0% in the second quarter. California State Teachers Retirement System now owns 2,059,313 shares of the company’s stock valued at $74,980,000 after purchasing an additional 2,001,385 shares in the last quarter. Nykredit A S bought a new position in Harmony Biosciences in the 2nd quarter worth approximately $33,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Harmony Biosciences in the 2nd quarter worth approximately $631,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Trading Up 1.8%

Shares of Harmony Biosciences stock opened at $39.66 on Thursday. Harmony Biosciences has a 12-month low of $25.52 and a 12-month high of $40.87. The stock has a market capitalization of $2.31 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 0.36 and a beta of 0.96. The company has a 50-day simple moving average of $36.63 and a 200 day simple moving average of $32.76. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. The firm had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. Research analysts expect that Harmony Biosciences will post 3.77 earnings per share for the current fiscal year.

Harmony Biosciences Company Profile

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.