FY2024 Earnings Estimate for Harmony Biosciences Holdings, Inc. Issued By Cantor Fitzgerald (NASDAQ:HRMY)

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Equities researchers at Cantor Fitzgerald increased their FY2024 EPS estimates for Harmony Biosciences in a research report issued to clients and investors on Monday, July 1st. Cantor Fitzgerald analyst C. Duncan now anticipates that the company will post earnings per share of $2.62 for the year, up from their prior estimate of $2.45. Cantor Fitzgerald currently has a “Overweight” rating and a $49.00 target price on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $1.96 per share.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, April 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. Harmony Biosciences had a net margin of 22.30% and a return on equity of 28.26%. The firm had revenue of $154.62 million for the quarter, compared to analysts’ expectations of $154.10 million. During the same quarter last year, the business earned $0.48 earnings per share. The business’s revenue was up 29.8% on a year-over-year basis.

Several other research analysts have also recently issued reports on HRMY. Citigroup initiated coverage on shares of Harmony Biosciences in a report on Friday, June 21st. They issued a “buy” rating and a $48.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a report on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Harmony Biosciences Stock Down 1.4 %

Shares of Harmony Biosciences stock opened at $30.00 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.07 and a current ratio of 3.11. Harmony Biosciences has a 52-week low of $18.61 and a 52-week high of $39.26. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 0.68 and a beta of 0.72. The company’s 50 day moving average price is $29.97 and its 200-day moving average price is $31.19.

Hedge Funds Weigh In On Harmony Biosciences

Hedge funds have recently bought and sold shares of the business. TFO Wealth Partners LLC raised its position in Harmony Biosciences by 98,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock worth $32,000 after buying an additional 987 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Harmony Biosciences by 47.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $33,000 after purchasing an additional 329 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Harmony Biosciences by 98.3% during the 1st quarter. Lazard Asset Management LLC now owns 4,542 shares of the company’s stock valued at $152,000 after purchasing an additional 2,251 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Harmony Biosciences during the 4th quarter valued at about $210,000. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Harmony Biosciences by 342.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,777 shares of the company’s stock valued at $219,000 after purchasing an additional 5,244 shares during the last quarter. Hedge funds and other 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.