Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $44.11 Average PT from Analysts

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $44.38.

A number of equities analysts have commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, October 2nd. UBS Group started coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 target price for the company. Raymond James reissued an “outperform” rating and issued a $40.00 price target on shares of Harmony Biosciences in a report on Thursday, October 10th. Mizuho boosted their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Citigroup began coverage on Harmony Biosciences in a research report on Friday, June 21st. They issued a “buy” rating and a $48.00 target price on the stock.

Harmony Biosciences Trading Down 1.9 %

Shares of NASDAQ:HRMY opened at $34.84 on Monday. Harmony Biosciences has a 52-week low of $18.79 and a 52-week high of $40.60. 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 company has a market capitalization of $1.98 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 0.67 and a beta of 0.73. The company has a 50-day simple moving average of $36.36 and a 200 day simple moving average of $32.80.

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

Hedge Funds Weigh In On Harmony Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HRMY. Creative Planning bought a new position in shares of Harmony Biosciences in the third quarter worth $246,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Harmony Biosciences by 84.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 44,900 shares of the company’s stock valued at $1,796,000 after buying an additional 20,600 shares during the period. CWM LLC raised its position in shares of Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after buying an additional 775 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Harmony Biosciences by 15.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 11,300 shares of the company’s stock worth $452,000 after acquiring an additional 1,500 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Harmony Biosciences by 244.4% during the 3rd quarter. SG Americas Securities LLC now owns 15,724 shares of the company’s stock worth $629,000 after acquiring an additional 11,158 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

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.