FY2024 EPS Estimates for HRMY Increased by Cantor Fitzgerald

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Research analysts at Cantor Fitzgerald boosted their FY2024 earnings per share estimates for shares of Harmony Biosciences in a report issued on Wednesday, October 30th. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will post earnings per share of $2.53 for the year, up from their previous forecast of $2.52. Cantor Fitzgerald currently has a “Overweight” rating and a $58.00 target price on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $2.23 per share.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15. The business had revenue of $186.00 million during the quarter, compared to the consensus estimate of $184.07 million. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share.

Several other brokerages have also weighed in on HRMY. Raymond James reissued an “outperform” rating and set a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. Oppenheimer reiterated an “outperform” rating and set a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday. Mizuho boosted their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. UBS Group started coverage on shares of Harmony Biosciences in a research report on Tuesday, September 10th. They set a “buy” rating and a $56.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research report on Tuesday. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Harmony Biosciences Trading Down 4.9 %

Shares of HRMY stock opened at $32.13 on Thursday. The company has a quick ratio of 3.09, a current ratio of 3.13 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.83 billion, a P/E ratio of 16.85, a PEG ratio of 0.69 and a beta of 0.73. The company has a 50 day moving average of $36.44 and a 200-day moving average of $33.11. Harmony Biosciences has a 12-month low of $22.00 and a 12-month high of $41.61.

Hedge Funds Weigh In On Harmony Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in shares of Harmony Biosciences by 1.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock valued at $1,184,000 after acquiring an additional 397 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Harmony Biosciences by 9.0% during the first quarter. Janney Montgomery Scott LLC now owns 29,974 shares of the company’s stock valued at $1,007,000 after purchasing an additional 2,465 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in Harmony Biosciences by 1.8% in the 1st quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock worth $964,000 after buying an additional 517 shares in the last quarter. Duality Advisers LP increased its holdings in shares of Harmony Biosciences by 22.5% in the 1st quarter. Duality Advisers LP now owns 9,864 shares of the company’s stock worth $331,000 after buying an additional 1,810 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Harmony Biosciences by 346.5% during the 1st quarter. LSV Asset Management now owns 335,146 shares of the company’s stock valued at $11,254,000 after buying an additional 260,093 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 21,496 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 30.80% 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.