Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives Average Recommendation of “Hold” from Analysts

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has received a consensus rating of “Hold” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $45.50.

HRMY has been the subject of several research analyst reports. UBS Group reiterated a “neutral” rating and set a $37.00 target price on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Zacks Research cut Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $39.00 price objective on shares of Harmony Biosciences in a research note on Wednesday, August 5th. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a report on Thursday, July 16th. Finally, Truist Financial lifted their price objective on Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HRMY. Ruffer LLP purchased a new position in shares of Harmony Biosciences in the fourth quarter valued at $1,536,000. Chase Investment Counsel Corp purchased a new stake in Harmony Biosciences during the second quarter valued at $1,820,000. CX Institutional raised its stake in Harmony Biosciences by 19.7% during the fourth quarter. CX Institutional now owns 275,809 shares of the company’s stock valued at $10,321,000 after purchasing an additional 45,376 shares in the last quarter. Convergence Investment Partners LLC bought a new position in Harmony Biosciences during the fourth quarter valued at $961,000. Finally, Sanctuary Advisors LLC bought a new position in Harmony Biosciences during the first quarter valued at $1,030,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Up 0.9%

Harmony Biosciences stock opened at $38.50 on Thursday. The stock has a market cap of $2.24 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 0.35 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. The firm’s 50-day simple moving average is $36.41 and its 200 day simple moving average is $32.73. Harmony Biosciences has a fifty-two week low of $25.52 and a fifty-two week high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.32. The company had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. Harmony Biosciences’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. Research analysts predict that Harmony Biosciences will post 3.77 EPS for the current fiscal year.

About Harmony Biosciences

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.