Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the nine research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $47.00.
Several equities research analysts have recently weighed in on the stock. UBS Group initiated coverage on shares of Harmony Biosciences in a research report on Tuesday, September 10th. They issued a "buy" rating and a $56.00 price target for the company. Cantor Fitzgerald boosted their price target on Harmony Biosciences from $51.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Oppenheimer reiterated an "outperform" rating and issued a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Needham & Company LLC reissued a "buy" rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Finally, Mizuho lifted their price objective 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.
View Our Latest Report on HRMY
Harmony Biosciences Trading Up 3.4 %
Shares of Harmony Biosciences stock traded up $1.17 on Friday, hitting $36.08. 845,073 shares of the company traded hands, compared to its average volume of 476,536. Harmony Biosciences has a 52 week low of $22.89 and a 52 week high of $41.61. The company has a market cap of $2.06 billion, a PE ratio of 17.10, a PEG ratio of 0.61 and a beta of 0.77. The stock's 50 day moving average price is $36.15 and its 200-day moving average price is $33.30. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28.
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 analysts' consensus estimates of $0.64 by $0.15. The business had revenue of $186.00 million for the quarter, compared to the consensus estimate of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business's revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 EPS. Equities research analysts predict that Harmony Biosciences will post 2.36 EPS for the current year.
Insider Activity at Harmony Biosciences
In related news, insider Jeffrey Dierks sold 21,496 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a document filed with the SEC, which is available at this link. 30.80% of the stock is owned by insiders.
Institutional Trading of Harmony Biosciences
A number of hedge funds have recently added to or reduced their stakes in HRMY. nVerses Capital LLC purchased a new stake in shares of Harmony Biosciences in the second quarter valued at approximately $36,000. CWM LLC boosted its stake in Harmony Biosciences by 111.7% during the third quarter. CWM LLC now owns 1,469 shares of the company's stock worth $59,000 after buying an additional 775 shares during the last quarter. Quarry LP acquired a new stake in Harmony Biosciences during the second quarter worth about $62,000. Headlands Technologies LLC grew its stake in shares of Harmony Biosciences by 1,608.1% in the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company's stock valued at $77,000 after buying an additional 2,396 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Harmony Biosciences by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock worth $80,000 after buying an additional 360 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.
About Harmony Biosciences
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Get Free ReportHarmony 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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