FY2024 EPS Estimates for HRMY Increased by Cantor Fitzgerald

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Research analysts at Cantor Fitzgerald lifted their FY2024 earnings estimates for shares of Harmony Biosciences in a note issued to investors on Tuesday, February 11th. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will post earnings of $2.55 per share for the year, up from their prior estimate of $2.53. Cantor Fitzgerald has a “Overweight” rating and a $58.00 price objective on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $2.43 per share. Cantor Fitzgerald also issued estimates for Harmony Biosciences’ FY2025 earnings at $3.49 EPS.

A number of other research firms have also commented on HRMY. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences in a report on Tuesday. They set a “buy” rating and a $55.00 target price for the company. Oppenheimer reissued an “outperform” rating and issued a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a report on Monday, January 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of Harmony Biosciences in a report on Monday, January 27th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $55.00.

Harmony Biosciences Price Performance

HRMY opened at $37.84 on Wednesday. The company has a fifty day moving average price of $35.89 and a two-hundred day moving average price of $35.56. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. Harmony Biosciences has a 52 week low of $28.14 and a 52 week high of $41.61. The firm has a market capitalization of $2.16 billion, a PE ratio of 17.93, a P/E/G ratio of 0.51 and a beta of 0.80.

Hedge Funds Weigh In On Harmony Biosciences

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Harmony Biosciences by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock valued at $162,883,000 after buying an additional 1,262,362 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Harmony Biosciences by 18.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock valued at $78,452,000 after buying an additional 351,582 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Harmony Biosciences by 28.7% in the 4th quarter. American Century Companies Inc. now owns 1,102,604 shares of the company’s stock valued at $37,941,000 after buying an additional 246,140 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Harmony Biosciences by 22.8% in the 4th quarter. Geode Capital Management LLC now owns 902,934 shares of the company’s stock valued at $31,077,000 after buying an additional 167,516 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Harmony Biosciences by 25.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 829,620 shares of the company’s stock valued at $28,547,000 after buying an additional 169,229 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Insider Transactions at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 1,123 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandip Kapadia sold 1,775 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $38.05, for a total transaction of $67,538.75. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock valued at $2,831,679 over the last three months. Company insiders own 30.80% 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.