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

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $52.00.

Several equities analysts recently weighed in on HRMY shares. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a research note on Tuesday, October 29th. HC Wainwright started coverage on shares of Harmony Biosciences in a research report on Tuesday, December 17th. They issued a “buy” rating and a $75.00 price objective for the company. UBS Group assumed coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 target price on the stock. Mizuho lifted their price target on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Cantor Fitzgerald boosted their price target on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th.

Harmony Biosciences Trading Up 1.0 %

Shares of NASDAQ:HRMY opened at $34.41 on Friday. The company’s 50-day moving average price is $34.13 and its two-hundred day moving average price is $34.39. Harmony Biosciences has a one year low of $28.14 and a one year high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The stock has a market capitalization of $1.96 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 0.60 and a beta of 0.79.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.15. The business had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. Harmony Biosciences’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 earnings per share. On average, equities analysts forecast that Harmony Biosciences will post 2.36 EPS for the current fiscal year.

Insider Transactions at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 21,496 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 30.80% of the stock is owned by corporate insiders.

Institutional Trading of Harmony Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in Harmony Biosciences by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock worth $9,217,000 after buying an additional 93,622 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Harmony Biosciences by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 29,773 shares of the company’s stock valued at $1,191,000 after acquiring an additional 1,720 shares during the period. Barclays PLC grew its holdings in shares of Harmony Biosciences by 110.9% during the 3rd quarter. Barclays PLC now owns 76,862 shares of the company’s stock worth $3,074,000 after purchasing an additional 40,416 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Harmony Biosciences in the third quarter worth $280,000. Finally, XTX Topco Ltd acquired a new position in Harmony Biosciences in the third quarter valued at about $451,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.