FY2029 Earnings Forecast for HRMY Issued By HC Wainwright

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Investment analysts at HC Wainwright issued their FY2029 earnings per share estimates for Harmony Biosciences in a research report issued to clients and investors on Thursday, January 16th. HC Wainwright analyst P. Trucchio forecasts that the company will post earnings of $5.99 per share for the year. HC Wainwright currently has a “Buy” rating and a $75.00 price objective on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $2.42 per share.

A number of other brokerages have also weighed in on HRMY. Cantor Fitzgerald upped their target price on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a research note on Monday, January 13th. Raymond James reiterated an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. Oppenheimer reiterated an “outperform” rating and issued a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Finally, Mizuho upped 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. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $55.00.

Harmony Biosciences Stock Performance

NASDAQ:HRMY opened at $39.05 on Monday. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 0.49 and a beta of 0.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The business’s fifty day moving average is $34.39 and its 200 day moving average is $34.90. Harmony Biosciences has a 52-week low of $28.14 and a 52-week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. During the same period in the previous year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year.

Insiders Place Their Bets

In other news, insider Jeffrey Dierks sold 21,496 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 30.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Harmony Biosciences by 92.6% during the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after buying an additional 436 shares in the last quarter. Mendota Financial Group LLC increased its position in Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after buying an additional 965 shares in the last quarter. CWM LLC increased its position in Harmony Biosciences by 111.7% during 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. Quantbot Technologies LP bought a new position in Harmony Biosciences during the 3rd quarter valued at approximately $74,000. Finally, Quarry LP bought a new position in Harmony Biosciences during the 2nd quarter valued at approximately $62,000. 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.