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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and six have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $40.63.

HRMY has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Harmony Biosciences from $25.00 to $28.00 and gave the stock a “sell” rating in a research note on Tuesday, January 9th. Bank of America reaffirmed an “underperform” rating and issued a $30.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, January 2nd. Mizuho decreased their price objective on shares of Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research note on Friday, April 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 9th.

Harmony Biosciences Trading Up 1.3 %

Shares of NASDAQ:HRMY opened at $29.23 on Monday. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.41 and a beta of 0.73. Harmony Biosciences has a 1-year low of $18.61 and a 1-year high of $39.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.72 and a current ratio of 2.75. The company has a 50 day moving average price of $31.58 and a 200 day moving average price of $30.01.

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

Insider Activity

In other news, insider Jeffrey Dierks sold 11,979 shares of the firm’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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 30.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HRMY. Vontobel Holding Ltd. bought a new position in shares of Harmony Biosciences during the 3rd quarter valued at $229,000. SG Americas Securities LLC bought a new position in Harmony Biosciences in the 3rd quarter worth $667,000. State of Alaska Department of Revenue raised its holdings in Harmony Biosciences by 6.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 20,919 shares of the company’s stock worth $685,000 after acquiring an additional 1,189 shares during the period. Exchange Traded Concepts LLC raised its holdings in Harmony Biosciences by 10,091.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 40,561 shares of the company’s stock worth $1,329,000 after acquiring an additional 40,163 shares during the period. Finally, Maryland State Retirement & Pension System raised its holdings in Harmony Biosciences by 6.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 12,376 shares of the company’s stock worth $406,000 after acquiring an additional 697 shares during the period. Institutional investors own 86.23% of the company’s stock.

About Harmony Biosciences

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.