FY2024 Earnings Forecast for Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Issued By Cantor Fitzgerald

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Stock analysts at Cantor Fitzgerald lifted their FY2024 earnings per share (EPS) estimates for shares of Harmony Biosciences in a research note issued to investors on Monday, July 1st. Cantor Fitzgerald analyst C. Duncan now anticipates that the company will earn $2.62 per share for the year, up from their prior estimate of $2.45. Cantor Fitzgerald currently has a “Overweight” rating and a $49.00 target price on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $2.02 per share.

Several other equities analysts also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research note on Monday, June 24th. Citigroup assumed coverage on Harmony Biosciences in a research report on Friday, June 21st. They issued a “buy” rating and a $48.00 target price for the company. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Harmony Biosciences presently has an average rating of “Moderate Buy” and an average price target of $41.67.

Harmony Biosciences Trading Up 3.0 %

NASDAQ HRMY opened at $30.89 on Wednesday. The firm’s fifty day moving average price is $30.04 and its 200 day moving average price is $31.18. Harmony Biosciences has a 12 month low of $18.61 and a 12 month 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. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 0.66 and a beta of 0.72.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. The company had revenue of $154.62 million for the quarter, compared to analyst estimates of $154.10 million. Harmony Biosciences had a net margin of 22.30% and a return on equity of 28.26%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 earnings per share.

Institutional Trading of Harmony Biosciences

A number of hedge funds have recently added to or reduced their stakes in HRMY. Vanguard Group Inc. raised its stake in shares of Harmony Biosciences by 2.5% during the third quarter. Vanguard Group Inc. now owns 3,684,152 shares of the company’s stock worth $120,730,000 after purchasing an additional 88,295 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Harmony Biosciences by 18.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,420,000 shares of the company’s stock worth $46,533,000 after buying an additional 220,000 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Harmony Biosciences by 534,795.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,224,910 shares of the company’s stock worth $39,565,000 after acquiring an additional 1,224,681 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Harmony Biosciences by 2,132.8% in the fourth quarter. Federated Hermes Inc. now owns 525,337 shares of the company’s stock valued at $16,968,000 after acquiring an additional 501,809 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Harmony Biosciences by 346.5% during the first quarter. LSV Asset Management now owns 335,146 shares of the company’s stock worth $11,254,000 after acquiring an additional 260,093 shares during the period. 86.23% of the stock is 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.