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

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been given an average recommendation of “Buy” by the nine ratings firms that are currently covering the company, MarketBeat reports. Nine research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $53.33.

Several equities analysts have commented on the stock. HC Wainwright lowered their target price on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Mizuho raised their price objective on Harmony Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, March 18th. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target on the stock.

Harmony Biosciences Stock Down 5.5 %

HRMY opened at $29.26 on Monday. The company has a market capitalization of $1.68 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. Harmony Biosciences has a fifty-two week low of $28.14 and a fifty-two week high of $41.61. The business has a 50-day moving average of $35.30 and a 200-day moving average of $35.23.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $201.30 million during the quarter, compared to analysts’ expectations of $201.25 million. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s revenue was up 19.5% compared to the same quarter last year. Equities research analysts forecast that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Insider Activity

In related news, CFO Sandip Kapadia sold 25,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total value of $1,004,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Dierks sold 1,123 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total value of $44,920.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FMR LLC increased its holdings in Harmony Biosciences by 1.9% in the 4th quarter. FMR LLC now owns 5,329,902 shares of the company’s stock valued at $183,402,000 after buying an additional 101,182 shares during the period. Vanguard Group Inc. boosted its position in shares of Harmony Biosciences by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock valued at $162,883,000 after acquiring an additional 1,262,362 shares in the last quarter. Pacer Advisors Inc. increased its stake in Harmony Biosciences by 18.2% in the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock valued at $78,452,000 after acquiring an additional 351,582 shares during the period. Deep Track Capital LP acquired a new position in Harmony Biosciences in the fourth quarter worth about $49,894,000. Finally, Dimensional Fund Advisors LP lifted its stake in Harmony Biosciences by 15.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company’s stock worth $41,739,000 after purchasing an additional 160,490 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.