Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives Average Rating of “Hold” from Brokerages

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have earned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $41.4444.

HRMY has been the topic of a number of recent research reports. Truist Financial upped their price target on shares of Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft increased their target price on Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating on shares of Harmony Biosciences in a report on Wednesday, June 24th. Finally, Zacks Research upgraded Harmony Biosciences from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Harmony Biosciences by 589.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after buying an additional 643 shares in the last quarter. Leonteq Securities AG purchased a new position in Harmony Biosciences during the fourth quarter valued at approximately $30,000. Allworth Financial LP increased its holdings in Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after acquiring an additional 602 shares during the period. Clearstead Advisors LLC increased its holdings in Harmony Biosciences by 145.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after acquiring an additional 699 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Harmony Biosciences in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Trading Up 3.0%

Shares of HRMY opened at $36.41 on Wednesday. Harmony Biosciences has a fifty-two week low of $25.52 and a fifty-two week high of $40.87. The business has a 50-day moving average of $32.21 and a 200 day moving average of $32.89. The firm has a market cap of $2.11 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 0.25 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58.

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

About Harmony Biosciences

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.