Brokerages Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Price Target at $41.00

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMYGet Free Report) has received a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $41.00.

HRMY has been the topic of a number of research analyst reports. Bank of America reissued an “underperform” rating and issued a $30.00 price target on shares of Harmony Biosciences in a report on Tuesday, January 2nd. The Goldman Sachs Group lifted their price objective on Harmony Biosciences from $25.00 to $28.00 and gave the stock a “sell” rating in a research note on Tuesday, January 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $49.00 target price on shares of Harmony Biosciences in a research report on Thursday, March 28th. Needham & Company LLC reissued a “buy” rating and set a $53.00 target price on shares of Harmony Biosciences in a research report on Thursday, February 22nd. Finally, Mizuho cut their target price on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th.

Check Out Our Latest Stock Analysis on Harmony Biosciences

Harmony Biosciences Trading Down 3.1 %

Shares of NASDAQ:HRMY opened at $31.70 on Thursday. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.46 and a beta of 0.73. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.72 and a current ratio of 2.75. The stock’s 50-day simple moving average is $32.29 and its two-hundred day simple moving average is $30.46. Harmony Biosciences has a 52-week low of $18.61 and a 52-week high of $39.26.

Harmony Biosciences (NASDAQ:HRMYGet Free Report) last announced its earnings results on Thursday, February 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.29). Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The firm had revenue of $168.40 million during the quarter, compared to analysts’ expectations of $168.90 million. During the same period in the previous year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was up 31.3% on a year-over-year basis. Analysts expect that Harmony Biosciences will post 3 EPS for the current year.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 11,979 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $32.00, for a total value of $383,328.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 34.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Harmony Biosciences

Several hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its position in Harmony Biosciences by 2.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,059 shares of the company’s stock valued at $609,000 after acquiring an additional 290 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Harmony Biosciences by 2.6% during the 1st quarter. Ensign Peak Advisors Inc now owns 11,710 shares of the company’s stock worth $382,000 after purchasing an additional 300 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Harmony Biosciences by 0.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 40,889 shares of the company’s stock worth $1,321,000 after purchasing an additional 328 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Harmony Biosciences by 47.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after purchasing an additional 329 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Harmony Biosciences by 3.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,599 shares of the company’s stock worth $529,000 after purchasing an additional 357 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Company Profile

(Get Free Report

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.

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Analyst Recommendations for Harmony Biosciences (NASDAQ:HRMY)

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