Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $47.00.

Several research analysts have recently commented on the stock. Raymond James reissued an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a research note on Thursday, October 10th. UBS Group began coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Mizuho raised their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a report on Tuesday, October 29th.

Insider Activity at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 30.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in Harmony Biosciences by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 29,773 shares of the company’s stock valued at $1,191,000 after purchasing an additional 1,720 shares during the last quarter. Barclays PLC boosted its holdings in Harmony Biosciences by 110.9% in the 3rd quarter. Barclays PLC now owns 76,862 shares of the company’s stock worth $3,074,000 after acquiring an additional 40,416 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Harmony Biosciences in the 3rd quarter worth approximately $280,000. XTX Topco Ltd acquired a new position in shares of Harmony Biosciences in the 3rd quarter valued at approximately $451,000. Finally, HighTower Advisors LLC raised its position in shares of Harmony Biosciences by 364.0% in the 3rd quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock valued at $3,199,000 after purchasing an additional 62,729 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $35.13 on Tuesday. The firm has a 50-day simple moving average of $35.09 and a 200-day simple moving average of $33.79. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. Harmony Biosciences has a 52 week low of $28.14 and a 52 week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last announced 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. The firm had revenue of $186.00 million during the quarter, compared to analyst estimates of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. Harmony Biosciences’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. On average, equities analysts predict that Harmony Biosciences will post 2.36 earnings per share for the current fiscal year.

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.