FY2024 EPS Estimates for HRMY Lifted by Cantor Fitzgerald

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Equities research analysts at Cantor Fitzgerald boosted their FY2024 earnings estimates for shares of Harmony Biosciences in a report issued on Tuesday, February 11th. Cantor Fitzgerald analyst C. Duncan now anticipates that the company will earn $2.55 per share for the year, up from their previous estimate of $2.53. Cantor Fitzgerald has a “Overweight” rating and a $58.00 price target on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $2.43 per share. Cantor Fitzgerald also issued estimates for Harmony Biosciences’ FY2025 earnings at $3.49 EPS.

Several other brokerages also recently issued reports on HRMY. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research note on Tuesday. They set a “buy” rating and a $55.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of Harmony Biosciences in a research report on Monday, January 27th. Oppenheimer reissued an “outperform” rating and issued a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a research note on Monday, January 13th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $55.00.

Harmony Biosciences Price Performance

NASDAQ:HRMY opened at $37.74 on Wednesday. The stock has a market cap of $2.15 billion, a PE ratio of 17.89, a P/E/G ratio of 0.51 and a beta of 0.80. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The business’s 50-day simple moving average is $35.83 and its two-hundred day simple moving average is $35.53. Harmony Biosciences has a 52 week low of $28.14 and a 52 week high of $41.61.

Insider Activity at Harmony Biosciences

In other news, CEO Jeffrey M. Dayno sold 19,293 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total value of $774,228.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandip Kapadia sold 25,000 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total value of $1,004,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is owned by corporate insiders.

Institutional Trading of Harmony Biosciences

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after acquiring an additional 436 shares during the last quarter. Mendota Financial Group LLC boosted its stake in shares of Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after purchasing an additional 965 shares during the period. CWM LLC grew its holdings in Harmony Biosciences by 111.7% during the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after purchasing an additional 775 shares during the last quarter. KBC Group NV raised its position in Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after purchasing an additional 819 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Harmony Biosciences in the third quarter worth about $74,000. 86.23% of the stock is currently owned by institutional investors.

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.