Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $49.80 Average Price Target from Analysts

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $52.00.

HRMY has been the subject of several recent research reports. UBS Group initiated coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 target price for the company. Cantor Fitzgerald raised their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a report on Tuesday, October 29th. Raymond James reaffirmed an “outperform” rating and set a $40.00 price target on shares of Harmony Biosciences in a research report on Thursday, October 10th. Finally, Oppenheimer reissued an “outperform” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th.

Harmony Biosciences Price Performance

HRMY stock opened at $34.78 on Friday. The stock has a market cap of $1.98 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 0.60 and a beta of 0.79. The stock has a 50-day moving average price of $34.15 and a two-hundred day moving average price of $34.43. Harmony Biosciences has a 1 year low of $28.14 and a 1 year high of $41.61. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. During the same quarter last year, the firm earned $0.63 EPS. Harmony Biosciences’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities analysts forecast that Harmony Biosciences will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total value of $869,943.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 30.80% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

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