Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives Average Recommendation of “Buy” from Analysts

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have received an average recommendation of “Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $55.00.

A number of brokerages have weighed in on HRMY. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research note on Monday, January 13th. Oppenheimer reissued an “outperform” rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Raymond James reiterated an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a research note on Thursday, October 10th. Cantor Fitzgerald boosted their target price on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of Harmony Biosciences in a research report on Thursday, January 16th.

Insider Activity

In related news, insider Jeffrey Dierks sold 10,507 shares of Harmony Biosciences stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total value of $388,864.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 33,126 shares of company stock valued at $1,303,727 in the last 90 days. 30.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Harmony Biosciences

A number of large investors have recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in Harmony Biosciences by 9.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 17,445 shares of the company’s stock worth $600,000 after purchasing an additional 1,550 shares in the last quarter. SG Americas Securities LLC grew its stake in Harmony Biosciences by 43.1% during the fourth quarter. SG Americas Securities LLC now owns 22,498 shares of the company’s stock worth $774,000 after buying an additional 6,774 shares during the period. ARS Investment Partners LLC acquired a new stake in shares of Harmony Biosciences in the fourth quarter worth $841,000. Avanza Fonder AB purchased a new position in shares of Harmony Biosciences in the 4th quarter valued at $145,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Harmony Biosciences by 38.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 75,072 shares of the company’s stock valued at $2,583,000 after acquiring an additional 20,798 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $40.46 on Wednesday. Harmony Biosciences has a 1-year low of $28.14 and a 1-year high of $41.61. The stock’s 50-day moving average is $34.46 and its two-hundred day moving average is $34.96. 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 cap of $2.31 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 0.54 and a beta of 0.78.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. During the same quarter last year, the company earned $0.63 EPS. The business’s quarterly revenue was up 16.0% on a year-over-year basis. Analysts forecast that Harmony Biosciences will post 2.43 EPS 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.