Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $42.50.

Several analysts have recently commented on HRMY shares. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Harmony Biosciences in a report on Thursday, July 16th. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Zacks Research upgraded shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Harmony Biosciences from $30.00 to $36.00 and gave the company a “hold” rating in a report on Tuesday, June 30th. Finally, Truist Financial increased their price target on Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, May 8th.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $35.32 on Friday. The business’s 50 day moving average price is $33.95 and its 200 day moving average price is $32.63. The firm has a market cap of $2.04 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.33 and a beta of 0.94. Harmony Biosciences has a 52 week low of $25.52 and a 52 week high of $40.87. The company has a quick ratio of 3.56, a current ratio of 3.58 and a debt-to-equity ratio of 0.15.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The business had revenue of $215.39 million during the quarter, compared to analyst estimates of $220.84 million. During the same quarter last year, the company posted $0.78 EPS. Harmony Biosciences’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts expect that Harmony Biosciences will post 3.3 earnings per share for the current year.

Institutional Trading of Harmony Biosciences

A number of hedge funds have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. boosted its stake in Harmony Biosciences by 0.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 47,085 shares of the company’s stock worth $1,762,000 after buying an additional 298 shares during the last quarter. Nebula Research & Development LLC raised its stake in shares of Harmony Biosciences by 2.0% in the 2nd quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock valued at $550,000 after acquiring an additional 348 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Harmony Biosciences by 2.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company’s stock valued at $717,000 after acquiring an additional 532 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Harmony Biosciences by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,799 shares of the company’s stock worth $105,000 after acquiring an additional 575 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of 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 purchasing an additional 602 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.