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

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have received an average recommendation of “Hold” from the eleven research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $40.8889.

A number of equities analysts have recently commented on the stock. Weiss Ratings lowered shares of Harmony Biosciences from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft lowered shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Monday, February 23rd. Mizuho set a $50.00 price target on shares of Harmony Biosciences in a report on Thursday, February 19th. Bank of America decreased their price target on shares of Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating on the stock in a report on Wednesday, February 25th. Finally, UBS Group decreased their price target on shares of Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th.

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors have recently made changes to their positions in HRMY. SG Americas Securities LLC increased its holdings in shares of Harmony Biosciences by 109.9% in the 1st quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after buying an additional 1,056,507 shares during the last quarter. Armistice Capital LLC bought a new position in shares of Harmony Biosciences during the 4th quarter valued at $18,710,000. AQR Capital Management LLC grew its holdings in shares of Harmony Biosciences by 128.9% during the 4th quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock valued at $30,456,000 after purchasing an additional 458,321 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Harmony Biosciences by 42.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock valued at $35,701,000 after purchasing an additional 388,472 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of Harmony Biosciences by 213.3% during the 3rd quarter. UBS Group AG now owns 503,081 shares of the company’s stock valued at $13,865,000 after purchasing an additional 342,505 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $32.20 on Friday. Harmony Biosciences has a 1 year low of $25.52 and a 1 year high of $40.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.58 and a quick ratio of 3.56. The stock has a market capitalization of $1.86 billion, a PE ratio of 12.98, a P/E/G ratio of 0.23 and a beta of 0.96. The company’s 50 day simple moving average is $30.16 and its two-hundred day simple moving average is $33.12.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.21). The firm had revenue of $215.39 million during the quarter, compared to analysts’ expectations of $220.84 million. Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 earnings per share. Analysts predict that Harmony Biosciences will post 3.2 earnings per share for the current fiscal 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.