Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Average Rating of “Moderate Buy” by Analysts

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $40.63.

Several equities research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Harmony Biosciences in a report on Tuesday, April 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $49.00 price target on shares of Harmony Biosciences in a research note on Friday, April 12th. Finally, Mizuho decreased their price objective on shares of Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th.

Harmony Biosciences Stock Up 1.1 %

Harmony Biosciences stock opened at $29.37 on Tuesday. The company has a current ratio of 3.11, a quick ratio of 3.07 and a debt-to-equity ratio of 0.34. Harmony Biosciences has a 1-year low of $18.61 and a 1-year high of $39.26. The company has a fifty day simple moving average of $29.89 and a 200 day simple moving average of $31.34. The company has a market cap of $1.67 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 0.66 and a beta of 0.72.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, April 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Harmony Biosciences had a return on equity of 28.26% and a net margin of 22.30%. The business had revenue of $154.62 million for the quarter, compared to the consensus estimate of $154.10 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. Harmony Biosciences’s quarterly revenue was up 29.8% on a year-over-year basis. Research analysts anticipate that Harmony Biosciences will post 1.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

Several hedge funds have recently bought and sold shares of HRMY. TFO Wealth Partners LLC lifted its holdings in shares of Harmony Biosciences by 98,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock worth $32,000 after buying an additional 987 shares in the last quarter. Quadrant Capital Group LLC lifted its position in 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 during the period. Lazard Asset Management LLC grew its stake in Harmony Biosciences by 98.3% during the first quarter. Lazard Asset Management LLC now owns 4,542 shares of the company’s stock worth $152,000 after buying an additional 2,251 shares in the last quarter. ELCO Management Co. LLC acquired a new position in shares of Harmony Biosciences in the 3rd quarter valued at approximately $210,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Harmony Biosciences during the fourth quarter worth $210,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.