Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $42.50 Consensus Target Price from Analysts

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been given an average rating of “Moderate Buy” by the ten analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $42.50.

HRMY has been the subject of several recent research reports. Zacks Research upgraded Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Harmony Biosciences from $30.00 to $36.00 and gave the company a “hold” rating in a research report on Tuesday, June 30th. Truist Financial boosted their price target on shares of Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a report on Friday, May 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a research report on Thursday, July 16th.

Harmony Biosciences Trading Down 0.7%

HRMY opened at $35.77 on Friday. The stock’s fifty day moving average is $34.18 and its two-hundred day moving average is $32.58. The company has a market capitalization of $2.07 billion, a P/E ratio of 14.42, a PEG ratio of 0.33 and a beta of 0.94. Harmony Biosciences has a 52 week low of $25.52 and a 52 week high of $40.87. The company has a quick ratio of 3.56, a current ratio of 3.58 and a debt-to-equity ratio of 0.15.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The firm had revenue of $215.39 million for the quarter, compared to the consensus estimate of $220.84 million. During the same period last year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. Analysts forecast that Harmony Biosciences will post 3.3 earnings per share for the current year.

Hedge Funds Weigh In On Harmony Biosciences

A number of large investors have recently bought and sold shares of HRMY. EverSource Wealth Advisors LLC boosted its position in Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after acquiring an additional 643 shares in the last quarter. Allworth Financial LP boosted its position in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after purchasing an additional 602 shares in the last quarter. Leonteq Securities AG bought a new stake in Harmony Biosciences during the fourth quarter valued at about $30,000. National Bank of Canada FI purchased a new position in Harmony Biosciences in the third quarter valued at about $40,000. Finally, Clearstead Advisors LLC grew its stake in Harmony Biosciences by 145.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after purchasing an additional 699 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

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.