Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) PT at $40.63

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $40.63.

HRMY has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday, April 30th. Mizuho lowered their price objective on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research note on Friday, April 12th.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 30.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC grew its holdings in shares of Harmony Biosciences by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 40,889 shares of the company’s stock worth $1,321,000 after purchasing an additional 328 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Harmony Biosciences by 47.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after purchasing an additional 329 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Harmony Biosciences by 1.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock worth $1,184,000 after purchasing an additional 397 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Harmony Biosciences by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock worth $964,000 after purchasing an additional 517 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Harmony Biosciences by 7.0% during the first quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock worth $352,000 after purchasing an additional 684 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Trading Down 2.8 %

NASDAQ HRMY opened at $29.35 on Friday. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.52 and a beta of 0.75. Harmony Biosciences has a one year low of $18.61 and a one year high of $39.26. 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 business’s fifty day moving average is $30.85 and its 200-day moving average is $30.92.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, April 30th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $154.62 million for the quarter, compared to analysts’ expectations of $154.10 million. Harmony Biosciences had a return on equity of 28.26% and a net margin of 22.30%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 EPS. Equities research analysts predict that Harmony Biosciences will post 2.53 EPS for the current year.

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.