Equities Analysts Set Expectations for Harmony Biosciences Holdings, Inc.’s Q3 2022 Earnings (NASDAQ:HRMY)

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMYGet Rating) – Equities researchers at Jefferies Financial Group upped their Q3 2022 earnings estimates for Harmony Biosciences in a report issued on Tuesday, August 2nd. Jefferies Financial Group analyst C. Howerton now forecasts that the company will post earnings per share of $0.35 for the quarter, up from their prior forecast of $0.33. Jefferies Financial Group currently has a “Hold” rating and a $57.00 price target on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $1.66 per share.

Harmony Biosciences (NASDAQ:HRMYGet Rating) last issued its earnings results on Tuesday, August 2nd. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). Harmony Biosciences had a return on equity of 60.12% and a net margin of 15.95%. During the same quarter in the prior year, the firm earned $0.54 EPS.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group cut shares of Harmony Biosciences from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Tuesday, July 12th. Cantor Fitzgerald assumed coverage on shares of Harmony Biosciences in a report on Thursday, April 14th. They set an “overweight” rating and a $63.00 target price for the company. Raymond James raised their price objective on shares of Harmony Biosciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday. Oppenheimer raised their price objective on shares of Harmony Biosciences from $62.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Mizuho decreased their target price on shares of Harmony Biosciences from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.86.

Harmony Biosciences Trading Up 0.3 %

Shares of NASDAQ:HRMY opened at $52.50 on Thursday. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 55.26 and a beta of 0.33. Harmony Biosciences has a 1-year low of $26.25 and a 1-year high of $57.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.88 and a current ratio of 4.91. The company has a 50 day moving average price of $49.55 and a 200 day moving average price of $45.07.

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors have recently modified their holdings of HRMY. Valor Management LLC bought a new position in shares of Harmony Biosciences in the fourth quarter worth about $478,337,000. Polar Capital Holdings Plc bought a new position in shares of Harmony Biosciences in the first quarter worth about $26,758,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Harmony Biosciences by 41.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,750,000 shares of the company’s stock worth $74,620,000 after acquiring an additional 509,585 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Harmony Biosciences during the second quarter worth approximately $14,820,000. Finally, Hood River Capital Management LLC bought a new stake in shares of Harmony Biosciences during the first quarter worth approximately $14,544,000. 75.62% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO John C. Jacobs sold 25,000 shares of Harmony Biosciences stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $44.18, for a total transaction of $1,104,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Harmony Biosciences news, Director Jack Nielsen sold 3,058 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $55.01, for a total value of $168,220.58. Following the transaction, the director now directly owns 3,421,238 shares in the company, valued at $188,202,302.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John C. Jacobs sold 25,000 shares of the business’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $44.18, for a total transaction of $1,104,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 502,307 shares of company stock worth $26,998,410. Corporate insiders own 34.70% of the company’s stock.

About Harmony Biosciences

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Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, develops and commercializes therapies for patients with rare neurological disorders in the United States. Its product, WAKIX is a medication for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.

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Earnings History and Estimates for Harmony Biosciences (NASDAQ:HRMY)

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