Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $47.00 Consensus Target Price from Analysts

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nine brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $47.00.

A number of equities analysts have issued reports on HRMY shares. Cantor Fitzgerald increased their target price on Harmony Biosciences from $51.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Raymond James reiterated an "outperform" rating and set a $40.00 target price on shares of Harmony Biosciences in a report on Thursday, October 10th. UBS Group initiated coverage on shares of Harmony Biosciences in a research note on Tuesday, September 10th. They set a "buy" rating and a $56.00 price objective for the company. Needham & Company LLC restated a "buy" rating and set a $52.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, October 29th. Finally, Mizuho increased their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an "outperform" rating in a research note on Thursday, October 10th.

Harmony Biosciences Trading Down 1.8 %

Shares of Harmony Biosciences stock traded down $0.63 on Tuesday, hitting $34.50. 593,204 shares of the company's stock traded hands, compared to its average volume of 475,137. The firm's 50-day moving average price is $35.09 and its two-hundred day moving average price is $33.79. The stock has a market capitalization of $1.97 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 0.64 and a beta of 0.79. 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.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.15. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $186.00 million during the quarter, compared to analysts' expectations of $184.07 million. During the same quarter in the prior year, the company earned $0.63 EPS. The firm's quarterly revenue was up 16.0% on a year-over-year basis. On average, research analysts expect that Harmony Biosciences will post 2.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeffrey Dierks sold 21,496 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 30.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Harmony Biosciences by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock worth $80,000 after purchasing an additional 360 shares during the period. Profund Advisors LLC increased its stake in Harmony Biosciences by 11.1% in the second quarter. Profund Advisors LLC now owns 7,557 shares of the company's stock valued at $228,000 after acquiring an additional 758 shares during the last quarter. CWM LLC increased its stake in Harmony Biosciences by 111.7% in the third quarter. CWM LLC now owns 1,469 shares of the company's stock valued at $59,000 after acquiring an additional 775 shares during the last quarter. Summit Global Investments increased its stake in Harmony Biosciences by 4.2% in the second quarter. Summit Global Investments now owns 20,164 shares of the company's stock valued at $608,000 after acquiring an additional 807 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Harmony Biosciences by 0.7% in the second quarter. AQR Capital Management LLC now owns 154,345 shares of the company's stock valued at $4,657,000 after acquiring an additional 1,116 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Company Profile

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.