Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $49.80 Average PT from Analysts

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $52.00.

Several analysts have recently weighed in on the company. Raymond James restated an “outperform” rating and set a $40.00 price target on shares of Harmony Biosciences in a report on Thursday, October 10th. HC Wainwright assumed coverage on shares of Harmony Biosciences in a report on Tuesday, December 17th. They set a “buy” rating and a $75.00 target price on the stock. UBS Group assumed coverage on shares of Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target for the company. Mizuho lifted their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Cantor Fitzgerald increased their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th.

Insider Buying and Selling at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 21,496 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 30.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new stake in Harmony Biosciences in the second quarter valued at $36,000. CWM LLC grew its stake in shares of Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after buying an additional 775 shares during the period. Quarry LP bought a new stake in Harmony Biosciences in the 2nd quarter valued at about $62,000. Quantbot Technologies LP acquired a new position in Harmony Biosciences during the 3rd quarter worth approximately $74,000. Finally, Headlands Technologies LLC boosted its holdings in Harmony Biosciences by 1,608.1% in the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock worth $77,000 after acquiring an additional 2,396 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Trading Up 1.0 %

Shares of Harmony Biosciences stock opened at $34.41 on Friday. Harmony Biosciences has a 1 year low of $28.14 and a 1 year high of $41.61. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1.96 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 0.60 and a beta of 0.79. The firm’s 50 day moving average is $34.13 and its 200 day moving average is $34.39.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. The company had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. Harmony Biosciences’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. Equities research analysts forecast that Harmony Biosciences will post 2.36 earnings per share 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.