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

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been given an average recommendation of “Buy” by the nine brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $51.33.

Several analysts have recently commented on the stock. Oppenheimer assumed coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They issued an “outperform” rating and a $61.00 price objective on the stock. The Goldman Sachs Group upgraded shares of Harmony Biosciences to a “hold” rating and set a $33.00 target price for the company in a research note on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $55.00 target price (up from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th. Mizuho boosted their target price on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, UBS Group reduced their price objective on shares of Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, April 28th.

Institutional Investors Weigh In On Harmony Biosciences

Large investors have recently modified their holdings of the business. Financial Management Professionals Inc. purchased a new stake in shares of Harmony Biosciences during the first quarter worth $29,000. Brooklyn Investment Group grew its holdings in shares of Harmony Biosciences by 1,031.9% during the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock worth $35,000 after buying an additional 970 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Harmony Biosciences during the fourth quarter worth $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Harmony Biosciences during the first quarter worth $57,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Harmony Biosciences by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock worth $80,000 after buying an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $34.84 on Wednesday. Harmony Biosciences has a 12-month low of $26.47 and a 12-month high of $41.61. The firm has a 50-day moving average price of $33.74 and a 200-day moving average price of $33.88. The firm has a market capitalization of $2.00 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 0.48 and a beta of 0.83. The company has a current ratio of 3.67, a quick ratio of 3.63 and a debt-to-equity ratio of 0.22.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.59 by $0.19. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. The business had revenue of $184.73 million during the quarter, compared to analyst estimates of $184.26 million. During the same quarter in the previous year, the business posted $0.67 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities research analysts forecast that Harmony Biosciences will post 2.43 EPS for the current year.

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.