Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $45.25 Average PT from Analysts

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been given a consensus rating of “Buy” by the eleven research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $45.25.

Several research analysts have recently issued reports on HRMY shares. Truist Financial reduced their price objective on Harmony Biosciences from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Mizuho raised their price target on shares of Harmony Biosciences from $39.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, December 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of Harmony Biosciences in a report on Monday, November 24th. UBS Group reduced their target price on shares of Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $42.00 target price on shares of Harmony Biosciences in a research report on Monday, November 24th.

Harmony Biosciences Price Performance

Shares of HRMY opened at $36.41 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.75 and a quick ratio of 3.72. The company’s fifty day moving average price is $37.56 and its 200-day moving average price is $34.31. Harmony Biosciences has a 1-year low of $25.52 and a 1-year high of $40.87. The firm has a market capitalization of $2.10 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 0.34 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The firm had revenue of $239.46 million for the quarter, compared to analyst estimates of $222.68 million. Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%. On average, equities research analysts predict that Harmony Biosciences will post 2.43 EPS for the current year.

Insider Activity

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 25,933 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $40.11, for a total value of $1,040,172.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandip Kapadia sold 20,961 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $35.92, for a total value of $752,919.12. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 50,640 shares of company stock valued at $1,932,256. Insiders own 23.60% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

Several large investors have recently made changes to their positions in HRMY. Allworth Financial LP grew its position in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after buying an additional 602 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Harmony Biosciences by 4,185.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock worth $37,000 after acquiring an additional 1,130 shares in the last quarter. National Bank of Canada FI acquired a new stake in shares of Harmony Biosciences during the 3rd quarter valued at about $40,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Harmony Biosciences by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock valued at $70,000 after acquiring an additional 299 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Harmony Biosciences by 338.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,511 shares of the company’s stock valued at $111,000 after purchasing an additional 2,711 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial?stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.