Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Stock Has Average Price Target of $47.44 According to Brokerages

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned a consensus rating of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $47.44.

HRMY has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Needham & Company LLC lifted their price objective on shares of Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Oppenheimer reissued an “outperform” rating on shares of Harmony Biosciences in a research note on Thursday, September 24th. Finally, Mizuho boosted their price objective on shares of Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, July 31st.

Harmony Biosciences Stock Performance

HRMY opened at $40.28 on Friday. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 0.32 and a beta of 1.01. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. Harmony Biosciences has a twelve month low of $25.52 and a twelve month high of $43.49. The company has a 50-day simple moving average of $40.07 and a 200 day simple moving average of $35.04.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $0.96 by $0.32. The firm had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. Analysts predict that Harmony Biosciences will post 3.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Kumar Budur sold 35,852 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $43.05, for a total value of $1,543,428.60. Following the sale, the insider owned 13,115 shares of the company’s stock, valued at approximately $564,600.75. This trade represents a 73.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 72,406 shares of company stock worth $3,108,520 in the last three months. 11.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Harmony Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its stake in Harmony Biosciences by 166.7% in the third quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock valued at $32,000 after buying an additional 510 shares in the last quarter. Nykredit A S bought a new position in Harmony Biosciences in the second quarter valued at about $33,000. Integrated Wealth Concepts LLC bought a new position in Harmony Biosciences in the second quarter valued at about $65,000. Allworth Financial LP bought a new position in Harmony Biosciences in the second quarter valued at about $71,000. Finally, State of Wyoming acquired a new position in Harmony Biosciences during the second quarter worth about $83,000. Institutional investors own 86.23% of the company’s stock.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial-stage pharmaceutical company focused on developing and marketing therapies for patients with rare neurological disorders. The company’s activities center on conditions that are often underserved by conventional treatment options, including sleep disorders and other central nervous system diseases.

Harmony’s principal product is WAKIX (pitolisant), an oral, non-scheduled medication that acts as a histamine-3 receptor antagonist/inverse agonist.