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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $41.33.

Several analysts recently weighed in on HRMY shares. UBS Group assumed coverage on Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target on the stock. Citigroup started coverage on shares of Harmony Biosciences in a report on Friday, June 21st. They issued a “buy” rating and a $48.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research note on Thursday, September 12th.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY opened at $38.34 on Thursday. The firm has a fifty day simple moving average of $34.99 and a two-hundred day simple moving average of $32.14. 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 stock has a market capitalization of $2.18 billion, a P/E ratio of 16.60, a PEG ratio of 0.75 and a beta of 0.73. Harmony Biosciences has a 52 week low of $18.61 and a 52 week high of $39.73.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.24. The company had revenue of $172.80 million for the quarter, compared to analysts’ expectations of $172.53 million. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. On average, analysts expect that Harmony Biosciences will post 2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Cim LLC boosted its holdings in shares of Harmony Biosciences by 14.4% in the second quarter. Cim LLC now owns 13,521 shares of the company’s stock valued at $408,000 after purchasing an additional 1,705 shares during the period. Quarry LP bought a new position in shares of Harmony Biosciences during the second quarter valued at approximately $62,000. Susquehanna Fundamental Investments LLC purchased a new position in Harmony Biosciences during the second quarter valued at approximately $465,000. Millennium Management LLC raised its stake in Harmony Biosciences by 51.6% in the second quarter. Millennium Management LLC now owns 307,420 shares of the company’s stock worth $9,275,000 after buying an additional 104,691 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Harmony Biosciences by 0.7% during the second quarter. AQR Capital Management LLC now owns 154,345 shares of the company’s stock worth $4,657,000 after buying an additional 1,116 shares during the period. Hedge funds and other institutional investors own 86.23% 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.