Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Average Recommendation of “Hold” by Brokerages

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been assigned an average recommendation of “Hold” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $42.6667.

Several research firms have recently weighed in on HRMY. Needham & Company LLC cut their target price on Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft downgraded Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research report on Monday, February 23rd. Mizuho set a $50.00 price objective on shares of Harmony Biosciences in a research note on Thursday, February 19th. UBS Group reduced their target price on shares of Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Finally, Bank of America lowered their target price on shares of Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating for the company in a report on Wednesday, February 25th.

Insiders Place Their Bets

In related news, CFO Sandip Kapadia sold 3,746 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $37.15, for a total value of $139,163.90. Following the sale, the chief financial officer directly owned 24,521 shares of the company’s stock, valued at $910,955.15. This represents a 13.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC raised its holdings in shares of Harmony Biosciences by 4,102.4% in the fourth quarter. SG Americas Securities LLC now owns 961,667 shares of the company’s stock worth $35,986,000 after buying an additional 938,783 shares during the period. Boston Partners purchased a new position in Harmony Biosciences during the 2nd quarter valued at $19,398,000. Arrowstreet Capital Limited Partnership boosted its holdings in Harmony Biosciences by 127.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company’s stock valued at $28,658,000 after acquiring an additional 508,498 shares during the period. Armistice Capital LLC bought a new position in Harmony Biosciences in the 4th quarter valued at $18,710,000. Finally, AQR Capital Management LLC grew its position in Harmony Biosciences by 128.9% in the 4th quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock valued at $30,456,000 after acquiring an additional 458,321 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Down 0.3%

Shares of NASDAQ:HRMY opened at $27.72 on Monday. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 0.38 and a beta of 0.88. Harmony Biosciences has a 12 month low of $25.52 and a 12 month high of $40.87. The company has a current ratio of 3.60, a quick ratio of 3.58 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $33.13 and a 200 day moving average price of $33.11.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.46). The company had revenue of $243.78 million for the quarter, compared to analysts’ expectations of $240.04 million. Harmony Biosciences had a net margin of 18.29% and a return on equity of 19.86%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. As a group, equities research analysts predict that Harmony Biosciences will post 2.43 earnings per share for the current year.

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.