Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) PT at $53.11

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMYGet Free Report) have been assigned an average recommendation of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $53.11.

HRMY has been the subject of several research reports. HC Wainwright dropped their price objective on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Mizuho dropped their price objective on shares of Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a report on Tuesday, February 25th.

Read Our Latest Research Report on Harmony Biosciences

Insider Buying and Selling

In other news, CFO Sandip Kapadia sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total transaction of $1,004,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey Dierks sold 1,123 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock valued at $2,831,679 in the last ninety days. 30.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors have recently modified their holdings of the stock. Deep Track Capital LP bought a new position in shares of Harmony Biosciences during the fourth quarter valued at approximately $49,894,000. Vanguard Group Inc. boosted its stake in shares of Harmony Biosciences by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock valued at $162,883,000 after purchasing an additional 1,262,362 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Harmony Biosciences by 165.2% during the fourth quarter. Marshall Wace LLP now owns 929,744 shares of the company’s stock valued at $31,992,000 after purchasing an additional 579,103 shares in the last quarter. Norges Bank bought a new position in shares of Harmony Biosciences during the fourth quarter valued at approximately $16,118,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Harmony Biosciences by 18.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock valued at $78,452,000 after purchasing an additional 351,582 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Trading Up 4.9 %

Shares of Harmony Biosciences stock opened at $34.32 on Thursday. The company has a market capitalization of $1.97 billion, a P/E ratio of 16.27, a P/E/G ratio of 0.47 and a beta of 0.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The company has a fifty day moving average of $36.40 and a 200 day moving average of $35.62. Harmony Biosciences has a fifty-two week low of $28.14 and a fifty-two week high of $41.61.

Harmony Biosciences (NASDAQ:HRMYGet Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. Harmony Biosciences’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. On average, sell-side analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

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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