Harmony Biosciences (NASDAQ:HRMY) Sets New 12-Month High at $39.91

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)’s share price reached a new 52-week high on Thursday . The stock traded as high as $39.91 and last traded at $39.91, with a volume of 481446 shares. The stock had previously closed at $37.29.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HRMY shares. Citigroup assumed coverage on Harmony Biosciences in a research report on Friday, June 21st. They issued a “buy” rating and a $48.00 price objective on the stock. UBS Group initiated coverage on shares of Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research report on Tuesday. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.33.

Harmony Biosciences Stock Down 1.7 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.13 and a quick ratio of 3.09. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 0.77 and a beta of 0.73. The firm’s 50-day moving average is $35.73 and its 200 day moving average is $32.51.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.24. The firm had revenue of $172.80 million during the quarter, compared to the consensus estimate of $172.53 million. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 earnings per share. Sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TFO Wealth Partners LLC lifted its holdings in shares of Harmony Biosciences by 98,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock valued at $32,000 after acquiring an additional 987 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Harmony Biosciences in the second quarter worth about $36,000. Quarry LP acquired a new stake in shares of Harmony Biosciences in the second quarter valued at about $62,000. Headlands Technologies LLC lifted its position in Harmony Biosciences by 1,608.1% during the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock worth $77,000 after acquiring an additional 2,396 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Harmony Biosciences in the 2nd quarter worth approximately $138,000. 86.23% of the stock is owned by institutional investors and hedge funds.

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.