Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Consensus Rating of “Moderate Buy” by Brokerages

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned an average rating of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $47.00.

Several equities research analysts have recently weighed in on the company. Oppenheimer reissued an “outperform” rating and set a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. UBS Group assumed coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They set a “buy” rating and a $56.00 target price on the stock. Cantor Fitzgerald raised 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. Needham & Company LLC reissued a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Finally, Raymond James restated an “outperform” rating and set a $40.00 price target on shares of Harmony Biosciences in a research note on Thursday, October 10th.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 30.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HRMY. nVerses Capital LLC purchased a new stake in shares of Harmony Biosciences in the second quarter valued at approximately $36,000. CWM LLC boosted its stake in shares of Harmony Biosciences by 111.7% in the third 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. Quarry LP purchased a new stake in shares of Harmony Biosciences in the second quarter valued at approximately $62,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Harmony Biosciences by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after buying an additional 360 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Harmony Biosciences by 1,608.1% in the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after buying an additional 2,396 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Price Performance

HRMY stock opened at $35.08 on Friday. 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 firm has a market capitalization of $2.00 billion, a P/E ratio of 16.71, a P/E/G ratio of 0.67 and a beta of 0.77. The business’s 50-day moving average is $36.15 and its two-hundred day moving average is $33.41. Harmony Biosciences has a 1 year low of $23.42 and a 1 year high of $41.61.

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 anticipate 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.