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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $41.67.

Several research firms recently weighed in on HRMY. Citigroup initiated coverage on Harmony Biosciences in a research note on Friday, June 21st. They set a “buy” rating and a $48.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $49.00 price objective on shares of Harmony Biosciences in a research report on Friday, April 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a research report on Tuesday.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. grew its holdings in shares of Harmony Biosciences by 2,132.8% during the fourth quarter. Federated Hermes Inc. now owns 525,337 shares of the company’s stock worth $16,968,000 after buying an additional 501,809 shares during the last quarter. LSV Asset Management grew its stake in shares of Harmony Biosciences by 346.5% in the 1st quarter. LSV Asset Management now owns 335,146 shares of the company’s stock valued at $11,254,000 after purchasing an additional 260,093 shares during the last quarter. Capital Management Corp VA acquired a new position in shares of Harmony Biosciences in the first quarter valued at approximately $7,018,000. Janus Henderson Group PLC raised its stake in shares of Harmony Biosciences by 1,011.7% during the first quarter. Janus Henderson Group PLC now owns 185,083 shares of the company’s stock worth $6,214,000 after purchasing an additional 168,434 shares during the last quarter. Finally, HealthInvest Partners AB acquired a new stake in shares of Harmony Biosciences during the fourth quarter worth $4,684,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Stock Up 6.2 %

Shares of NASDAQ HRMY opened at $32.83 on Wednesday. The business has a 50-day moving average of $31.41 and a two-hundred day moving average of $31.34. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 0.81 and a beta of 0.72. Harmony Biosciences has a 1 year low of $18.61 and a 1 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.

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.