Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) - Equities researchers at HC Wainwright issued their FY2029 earnings estimates for Harmony Biosciences in a report issued on Thursday, January 16th. HC Wainwright analyst P. Trucchio forecasts that the company will post earnings per share of $5.99 for the year. HC Wainwright currently has a "Buy" rating and a $75.00 price target on the stock. The consensus estimate for Harmony Biosciences' current full-year earnings is $2.42 per share.
Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly 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. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. During the same quarter in the previous year, the business posted $0.63 earnings per share. The firm's quarterly revenue was up 16.0% compared to the same quarter last year.
Other equities analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a "buy" rating and set a $52.00 price objective on shares of Harmony Biosciences in a research report on Monday, January 13th. Cantor Fitzgerald boosted their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Raymond James reaffirmed an "outperform" rating and issued a $40.00 price objective on shares of Harmony Biosciences in a research note on Thursday, October 10th. Mizuho increased their target price on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an "outperform" rating in a research report on Thursday, October 10th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $55.00.
Read Our Latest Stock Report on Harmony Biosciences
Harmony Biosciences Trading Up 1.3 %
Shares of NASDAQ HRMY traded up $0.51 during mid-day trading on Monday, hitting $39.05. 658,904 shares of the company traded hands, compared to its average volume of 477,832. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. Harmony Biosciences has a 1 year low of $28.14 and a 1 year high of $41.61. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 0.49 and a beta of 0.78. The business has a 50 day moving average of $34.39 and a two-hundred day moving average of $34.90.
Insider Transactions at Harmony Biosciences
In other Harmony Biosciences news, insider Jeffrey Dierks sold 10,507 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $37.01, for a total value of $388,864.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 30.80% of the stock is owned by insiders.
Hedge Funds Weigh In On Harmony Biosciences
Hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. grew its holdings in Harmony Biosciences by 9.8% during the third quarter. Citigroup Inc. now owns 177,843 shares of the company's stock valued at $7,114,000 after purchasing an additional 15,859 shares during the period. HighTower Advisors LLC lifted its holdings in Harmony Biosciences by 364.0% during the third quarter. HighTower Advisors LLC now owns 79,961 shares of the company's stock worth $3,199,000 after acquiring an additional 62,729 shares in the last quarter. Quest Partners LLC lifted its holdings in Harmony Biosciences by 137.6% during the third quarter. Quest Partners LLC now owns 35,723 shares of the company's stock worth $1,429,000 after acquiring an additional 20,689 shares in the last quarter. Marshall Wace LLP grew its stake in Harmony Biosciences by 145.4% in the second quarter. Marshall Wace LLP now owns 305,612 shares of the company's stock valued at $9,220,000 after acquiring an additional 181,092 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Harmony Biosciences by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company's stock worth $9,217,000 after acquiring an additional 93,622 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.
About Harmony Biosciences
(
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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.
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