Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $45.63 Consensus Price Target from Analysts

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $45.6250.

Several brokerages have recently weighed in on HRMY. Wall Street Zen upgraded shares of Harmony Biosciences from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Mizuho boosted their price target on shares of Harmony Biosciences from $39.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, December 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 price target on shares of Harmony Biosciences in a research report on Monday, November 24th. Finally, Oppenheimer reissued an “outperform” rating and set a $62.00 price objective on shares of Harmony Biosciences in a report on Monday, November 24th.

Harmony Biosciences Stock Up 0.9%

Shares of Harmony Biosciences stock opened at $37.81 on Friday. The stock’s 50-day moving average is $33.17 and its 200 day moving average is $33.43. Harmony Biosciences has a one year low of $25.52 and a one year high of $40.93. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 0.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.75 and a quick ratio of 3.72.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.05). The business had revenue of $239.46 million during the quarter, compared to analyst estimates of $222.68 million. Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. Equities research analysts anticipate that Harmony Biosciences will post 2.43 EPS for the current year.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 25,933 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $40.11, for a total transaction of $1,040,172.63. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 23.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Brooklyn Investment Group increased its stake in Harmony Biosciences by 1,031.9% in the 1st quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock valued at $35,000 after buying an additional 970 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Harmony Biosciences by 4,185.2% during the second quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock valued at $37,000 after acquiring an additional 1,130 shares during the last quarter. National Bank of Canada FI bought a new position in Harmony Biosciences in the 3rd quarter valued at $40,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Harmony Biosciences during the 1st quarter valued at $57,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Harmony Biosciences by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock worth $70,000 after purchasing an additional 299 shares during the period. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial?stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.