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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been given a consensus recommendation of “Buy” by the nine analysts that are currently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $53.33.

Several research firms have weighed in on HRMY. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target for the company. Mizuho raised their price target on Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, February 25th. Finally, HC Wainwright lowered their price objective on Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 27th.

Insider Activity at Harmony Biosciences

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. Also, CFO Sandip Kapadia sold 25,000 shares of Harmony Biosciences stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total value of $1,004,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,452 shares of company stock worth $2,831,679. 30.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Deep Track Capital LP purchased a new stake in shares of Harmony Biosciences during the fourth quarter worth about $49,894,000. Vanguard Group Inc. increased its position in shares of Harmony Biosciences by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock worth $162,883,000 after acquiring an additional 1,262,362 shares during the last quarter. Marshall Wace LLP increased its position in shares of Harmony Biosciences by 165.2% during the fourth quarter. Marshall Wace LLP now owns 929,744 shares of the company’s stock worth $31,992,000 after acquiring an additional 579,103 shares during the last quarter. Norges Bank purchased a new stake in shares of Harmony Biosciences during the fourth quarter worth about $16,118,000. Finally, Pacer Advisors Inc. increased its position in shares of Harmony Biosciences by 18.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock worth $78,452,000 after acquiring an additional 351,582 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $34.40 on Thursday. 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 business has a 50 day moving average price of $36.39 and a 200 day moving average price of $35.60. The company has a market capitalization of $1.97 billion, a P/E ratio of 16.30, a PEG ratio of 0.47 and a beta of 0.82. Harmony Biosciences has a 1-year low of $28.14 and a 1-year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. Harmony Biosciences’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 earnings per share. Sell-side analysts expect that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

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.