Cantor Fitzgerald Brokers Boost Earnings Estimates for HRMY

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Analysts at Cantor Fitzgerald boosted their FY2024 earnings estimates for Harmony Biosciences in a research report issued to clients and investors on Tuesday, February 11th. Cantor Fitzgerald analyst C. Duncan now expects that the company will earn $2.55 per share for the year, up from their previous forecast of $2.53. Cantor Fitzgerald has a “Overweight” rating and a $58.00 price objective on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $2.43 per share. Cantor Fitzgerald also issued estimates for Harmony Biosciences’ FY2025 earnings at $3.49 EPS.

Other equities research analysts also recently issued reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of Harmony Biosciences in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research report on Tuesday. They issued a “buy” rating and a $55.00 price target on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research report on Monday, January 13th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $55.00.

Harmony Biosciences Trading Up 0.3 %

Harmony Biosciences stock opened at $37.84 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 0.51 and a beta of 0.80. Harmony Biosciences has a one year low of $28.14 and a one year high of $41.61. The company’s fifty day moving average price is $35.89 and its two-hundred day moving average price is $35.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HRMY. Vanguard Group Inc. raised its stake in shares of Harmony Biosciences by 36.4% in the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock valued at $162,883,000 after acquiring an additional 1,262,362 shares during the last quarter. Norges Bank bought a new position in shares of Harmony Biosciences in the fourth quarter valued at approximately $16,118,000. Pacer Advisors Inc. raised its stake in shares of Harmony Biosciences by 18.2% in the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock valued at $78,452,000 after acquiring an additional 351,582 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Harmony Biosciences by 28.7% in the fourth quarter. American Century Companies Inc. now owns 1,102,604 shares of the company’s stock valued at $37,941,000 after acquiring an additional 246,140 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Harmony Biosciences in the fourth quarter valued at approximately $6,042,000. Institutional investors own 86.23% of the company’s stock.

Insider Buying and Selling

In other Harmony Biosciences news, CFO Sandip Kapadia sold 1,775 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $38.05, for a total transaction of $67,538.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Dierks sold 1,123 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. The disclosure for this sale can be found here. Insiders have sold a total of 72,452 shares of company stock valued at $2,831,679 over the last three months. 30.80% of the stock is owned by corporate insiders.

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.