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 ten research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $49.80.

A number of analysts recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and issued 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 started coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a report on Tuesday, October 29th. HC Wainwright initiated coverage on shares of Harmony Biosciences in a report on Tuesday, December 17th. They set a “buy” rating and a $75.00 target price on the stock. Finally, Mizuho increased their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th.

Harmony Biosciences Trading Down 1.5 %

NASDAQ:HRMY opened at $34.20 on Friday. The company has a market cap of $1.95 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 0.60 and a beta of 0.79. Harmony Biosciences has a twelve month low of $28.14 and a twelve month high of $41.61. The business has a 50 day moving average price of $34.18 and a two-hundred day moving average price of $34.22. 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 (NASDAQ:HRMY) last announced its earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The firm’s revenue was up 16.0% on a year-over-year basis. As a group, analysts expect that Harmony Biosciences will post 2.36 EPS for the current fiscal year.

Insider Transactions at Harmony Biosciences

In related 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 transaction of $869,943.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 30.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Harmony Biosciences by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $80,000 after purchasing an additional 360 shares in the last quarter. Profund Advisors LLC grew its position in Harmony Biosciences by 11.1% during the second quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock worth $228,000 after buying an additional 758 shares in the last quarter. CWM LLC increased its stake in Harmony Biosciences by 111.7% during the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after acquiring an additional 775 shares during the period. AQR Capital Management LLC raised its holdings in Harmony Biosciences by 0.7% in the 2nd quarter. AQR Capital Management LLC now owns 154,345 shares of the company’s stock valued at $4,657,000 after acquiring an additional 1,116 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Harmony Biosciences during the 2nd quarter valued at $36,000. Institutional investors own 86.23% of the company’s stock.

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.