Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $40.63 Consensus PT from Analysts

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $40.63.

Several research analysts have recently issued reports on the stock. Bank of America reiterated an “underperform” rating and issued a $30.00 target price on shares of Harmony Biosciences in a research note on Tuesday, January 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $49.00 price objective on shares of Harmony Biosciences in a report on Friday, April 12th. 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 report on Tuesday, January 9th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Harmony Biosciences in a research report on Tuesday, April 9th. Finally, Mizuho reduced their price target on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th.

Harmony Biosciences Stock Performance

Harmony Biosciences stock opened at $29.32 on Monday. Harmony Biosciences has a twelve month low of $18.61 and a twelve month high of $39.26. The company has a quick ratio of 2.72, a current ratio of 2.75 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.67 billion, a P/E ratio of 13.83, a PEG ratio of 0.41 and a beta of 0.73. The stock’s 50 day moving average is $31.37 and its 200 day moving average is $29.95.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.29). The company had revenue of $168.40 million for the quarter, compared to the consensus estimate of $168.90 million. Harmony Biosciences had a net margin of 22.16% and a return on equity of 27.49%. Harmony Biosciences’s revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. On average, equities research analysts predict that Harmony Biosciences will post 3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeffrey Dierks sold 11,979 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $32.00, for a total transaction of $383,328.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 30.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Harmony Biosciences

Several large investors have recently added to or reduced their stakes in the stock. Prairiewood Capital LLC purchased a new position in shares of Harmony Biosciences during the first quarter worth approximately $384,000. Oakworth Capital Inc. raised its position in Harmony Biosciences by 111.8% during the 1st quarter. Oakworth Capital Inc. now owns 9,675 shares of the company’s stock valued at $325,000 after purchasing an additional 5,107 shares in the last quarter. Hedeker Wealth LLC purchased a new stake in shares of Harmony Biosciences in the 1st quarter worth $2,627,000. Allspring Global Investments Holdings LLC grew its position in shares of Harmony Biosciences by 1.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock worth $1,184,000 after buying an additional 397 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Harmony Biosciences by 4.5% during the first quarter. Los Angeles Capital Management LLC now owns 25,224 shares of the company’s stock valued at $847,000 after buying an additional 1,076 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

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.