Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Consensus Rating of “Buy” by Analysts

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has received an average rating of “Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $45.25.

HRMY has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating on shares of Harmony Biosciences in a report on Wednesday, December 3rd. Needham & Company LLC restated a “buy” rating and issued a $42.00 target price on shares of Harmony Biosciences in a research note on Monday, November 24th. Zacks Research raised shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Harmony Biosciences in a report on Monday, December 29th. Finally, UBS Group reduced their price objective on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th.

Harmony Biosciences Price Performance

Shares of HRMY stock opened at $36.52 on Friday. The stock has a 50 day moving average price of $37.41 and a 200 day moving average price of $34.26. Harmony Biosciences has a 52-week low of $25.52 and a 52-week high of $40.87. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.72 and a current ratio of 3.75. The firm has a market capitalization of $2.10 billion, a P/E ratio of 11.48, a P/E/G ratio of 0.34 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%.The business had revenue of $239.46 million during the quarter, compared to analysts’ expectations of $222.68 million. As a group, sell-side analysts predict that Harmony Biosciences will post 2.43 earnings per share for the current year.

Insider Buying and Selling at Harmony Biosciences

In related news, CEO Jeffrey M. Dayno sold 25,933 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $40.11, for a total value of $1,040,172.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandip Kapadia sold 20,961 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $35.92, for a total transaction of $752,919.12. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 50,640 shares of company stock worth $1,932,256. Insiders own 23.60% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

Several large investors have recently modified their holdings of HRMY. Parkside Financial Bank & Trust lifted its position in shares of Harmony Biosciences by 4,185.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock worth $37,000 after purchasing an additional 1,130 shares during the period. National Bank of Canada FI purchased a new stake in Harmony Biosciences during the third quarter worth $40,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Harmony Biosciences by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock worth $70,000 after buying an additional 299 shares during the period. Tower Research Capital LLC TRC boosted its position in Harmony Biosciences by 338.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,511 shares of the company’s stock valued at $111,000 after acquiring an additional 2,711 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Harmony Biosciences in the 2nd quarter valued at $120,000. Institutional investors own 86.23% of the company’s stock.

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.