Brokerages Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) PT at $40.63

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMYGet Free Report) has earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $40.63.

Several equities research analysts have recently weighed in on HRMY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 30th. Mizuho dropped their price target on shares of Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $49.00 price target on shares of Harmony Biosciences in a report on Friday, April 12th.

Read Our Latest Report on Harmony Biosciences

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HRMY. Hancock Whitney Corp purchased a new position in shares of Harmony Biosciences in the first quarter worth approximately $354,000. Janus Henderson Group PLC grew its stake in Harmony Biosciences by 1,011.7% during the 1st quarter. Janus Henderson Group PLC now owns 185,083 shares of the company’s stock valued at $6,214,000 after acquiring an additional 168,434 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Harmony Biosciences by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,219 shares of the company’s stock valued at $478,000 after purchasing an additional 1,201 shares during the period. Lazard Asset Management LLC lifted its position in shares of Harmony Biosciences by 98.3% in the first quarter. Lazard Asset Management LLC now owns 4,542 shares of the company’s stock worth $152,000 after purchasing an additional 2,251 shares in the last quarter. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Harmony Biosciences during the first quarter worth approximately $389,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Shares of NASDAQ:HRMY opened at $29.37 on Tuesday. The stock has a market cap of $1.67 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 0.66 and a beta of 0.72. The business’s fifty day moving average price is $29.89 and its two-hundred day moving average price is $31.34. Harmony Biosciences has a one year low of $18.61 and a one year high of $39.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.07 and a current ratio of 3.11.

Harmony Biosciences (NASDAQ:HRMYGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Harmony Biosciences had a net margin of 22.30% and a return on equity of 28.26%. The company had revenue of $154.62 million for the quarter, compared to analyst estimates of $154.10 million. During the same quarter last year, the business earned $0.48 EPS. Harmony Biosciences’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, analysts forecast that Harmony Biosciences will post 1.96 EPS for the current fiscal year.

Harmony Biosciences Company Profile

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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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