Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $44.11 Consensus Price Target from Brokerages

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $44.38.

Several analysts have recently commented on HRMY shares. Citigroup started coverage on Harmony Biosciences in a research note on Friday, June 21st. They issued a “buy” rating and a $48.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research note on Wednesday, October 2nd. Raymond James reissued an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a research note on Thursday, October 10th. Mizuho increased their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, UBS Group initiated coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price objective for the company.

Institutional Trading of Harmony Biosciences

Large investors have recently bought and sold shares of the company. Hedeker Wealth LLC purchased a new stake in Harmony Biosciences in the first quarter worth $2,627,000. LSV Asset Management increased its position in Harmony Biosciences by 346.5% in the first quarter. LSV Asset Management now owns 335,146 shares of the company’s stock worth $11,254,000 after buying an additional 260,093 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Harmony Biosciences by 145.4% in the second quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock worth $9,220,000 after acquiring an additional 181,092 shares during the period. Rice Hall James & Associates LLC boosted its holdings in shares of Harmony Biosciences by 42.1% in the second quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company’s stock worth $2,429,000 after acquiring an additional 23,867 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings 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 worth $2,563,000 after acquiring an additional 29,816 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Trading Up 1.3 %

NASDAQ:HRMY opened at $35.41 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.13 and a quick ratio of 3.09. Harmony Biosciences has a one year low of $18.79 and a one year high of $40.60. The company has a market cap of $2.01 billion, a PE ratio of 15.33, a PEG ratio of 0.67 and a beta of 0.73. The firm has a 50-day moving average of $36.41 and a 200-day moving average of $32.83.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.24. The firm had revenue of $172.80 million during the quarter, compared to analyst estimates of $172.53 million. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. As a group, equities research analysts expect that Harmony Biosciences will post 2.19 EPS for the current fiscal year.

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.