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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $47.00.

Several research firms have recently weighed in on HRMY. UBS Group started coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 price objective for the company. Cantor Fitzgerald lifted their price target on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Raymond James restated an “outperform” rating and set a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. Mizuho lifted their target price on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Oppenheimer restated an “outperform” rating and set a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th.

Insider Buying and Selling at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 21,496 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 30.80% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management raised its holdings in shares of Harmony Biosciences by 346.5% during 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 in the last quarter. American Century Companies Inc. lifted its position in shares of Harmony Biosciences by 53.7% in the second quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock worth $20,562,000 after buying an additional 238,140 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Harmony Biosciences by 56.7% during the 2nd quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock worth $17,975,000 after acquiring an additional 215,700 shares in the last quarter. Capital Management Corp VA acquired a new position in shares of Harmony Biosciences during the 1st quarter valued at about $7,018,000. Finally, Marshall Wace LLP raised its stake in shares of Harmony Biosciences by 145.4% in the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after acquiring an additional 181,092 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $33.00 on Friday. Harmony Biosciences has a twelve month low of $24.70 and a twelve month 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. The firm has a 50-day moving average of $36.08 and a two-hundred day moving average of $33.45. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 0.65 and a beta of 0.77.

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