Harmony Biosciences (NASDAQ:HRMY) Trading Down 4.1%

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)’s stock price fell 4.1% during mid-day trading on Tuesday . The company traded as low as $38.17 and last traded at $38.34. 46,239 shares were traded during trading, a decline of 88% from the average session volume of 386,388 shares. The stock had previously closed at $40.00.

Analyst Ratings Changes

Several research firms have recently commented on HRMY. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a report on Tuesday, September 24th. Citigroup assumed coverage on shares of Harmony Biosciences in a report on Friday, June 21st. They issued a “buy” rating and a $48.00 price objective for the company. Finally, UBS Group began coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target for the company. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.33.

Harmony Biosciences Stock Down 2.1 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13. The firm has a market cap of $2.22 billion, a PE ratio of 17.32, a PEG ratio of 0.77 and a beta of 0.73. The company’s 50-day simple moving average is $35.86 and its two-hundred day simple moving average is $32.60.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.24. The firm had revenue of $172.80 million for the quarter, compared to analysts’ expectations of $172.53 million. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.56 earnings per share. On average, analysts predict that Harmony Biosciences Holdings, Inc. will post 2.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

Large investors have recently bought and sold shares of the business. TFO Wealth Partners LLC boosted 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 valued at $32,000 after buying an additional 987 shares during the period. nVerses Capital LLC acquired a new position in shares of Harmony Biosciences in the 2nd quarter valued at about $36,000. Quarry LP purchased a new position in shares of Harmony Biosciences during the 2nd quarter valued at approximately $62,000. Headlands Technologies LLC grew its position in shares of Harmony Biosciences by 1,608.1% during the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after acquiring an additional 2,396 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Harmony Biosciences during the second quarter worth $138,000. Institutional investors own 86.23% of the company’s stock.

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.