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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $40.63.

Several research firms recently commented on HRMY. Bank of America restated an “underperform” rating and issued a $30.00 price target on shares of Harmony Biosciences in a research note on Tuesday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $49.00 price target on shares of Harmony Biosciences in a report on Friday, April 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a report on Tuesday, April 9th. The Goldman Sachs Group raised their price target on shares of Harmony Biosciences from $25.00 to $28.00 and gave the company a “sell” rating in a research note on Tuesday, January 9th. Finally, Mizuho decreased their price objective on shares of Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th.

Insiders Place Their Bets

In other news, insider Jeffrey Dierks sold 11,979 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $32.00, for a total value of $383,328.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 30.80% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in Harmony Biosciences by 534,795.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,224,910 shares of the company’s stock worth $39,565,000 after purchasing an additional 1,224,681 shares during the last quarter. Federated Hermes Inc. grew its position in Harmony Biosciences by 2,132.8% during the fourth quarter. Federated Hermes Inc. now owns 525,337 shares of the company’s stock valued at $16,968,000 after buying an additional 501,809 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in Harmony Biosciences by 18.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,420,000 shares of the company’s stock worth $46,533,000 after buying an additional 220,000 shares during the last quarter. HealthInvest Partners AB purchased a new position in Harmony Biosciences in the fourth quarter valued at about $4,684,000. Finally, Vanguard Group Inc. grew its position in shares of Harmony Biosciences by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,684,152 shares of the company’s stock valued at $120,730,000 after acquiring an additional 88,295 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY opened at $29.32 on Monday. The company has a current ratio of 2.75, a quick ratio of 2.72 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.67 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.41 and a beta of 0.73. Harmony Biosciences has a 12 month low of $18.61 and a 12 month high of $39.26. The stock has a 50 day moving average of $31.37 and a 200-day moving average of $29.95.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.29). The company had revenue of $168.40 million for the quarter, compared to the consensus estimate of $168.90 million. Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. As a group, equities research analysts predict that Harmony Biosciences will post 3 EPS for the current 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.