Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) PT at $55.00

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has been given an average rating of "Buy" by the eight analysts that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $55.00.

Several analysts recently weighed in on HRMY shares. Cantor Fitzgerald raised their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Raymond James restated an "outperform" rating and issued a $40.00 price target on shares of Harmony Biosciences in a research note on Thursday, October 10th. HC Wainwright reiterated a "buy" rating and set a $75.00 price objective on shares of Harmony Biosciences in a research report on Thursday, January 16th. Needham & Company LLC restated a "buy" rating and issued a $52.00 target price on shares of Harmony Biosciences in a research report on Monday, January 13th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th.

Harmony Biosciences Price Performance

HRMY traded down $1.80 on Wednesday, hitting $38.66. 535,560 shares of the stock were exchanged, compared to its average volume of 557,643. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 0.54 and a beta of 0.78. 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 has a 12 month low of $28.14 and a 12 month high of $41.61. The business has a 50-day moving average of $34.57 and a two-hundred day moving average of $35.02.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.15. The company had revenue of $186.00 million during the quarter, compared to the consensus estimate of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm's quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 EPS. Sell-side analysts forecast that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 33,126 shares of company stock worth $1,303,727. Company insiders own 30.80% of the company's stock.

Institutional Investors Weigh In On Harmony Biosciences

Several large investors have recently modified their holdings of HRMY. Pacer Advisors Inc. lifted its holdings in Harmony Biosciences by 18.2% in the fourth 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 period. KBC Group NV lifted its stake in shares of Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company's stock valued at $63,000 after purchasing an additional 819 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Harmony Biosciences by 9.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 17,445 shares of the company's stock valued at $600,000 after purchasing an additional 1,550 shares in the last quarter. SG Americas Securities LLC grew its stake in Harmony Biosciences by 43.1% during the fourth quarter. SG Americas Securities LLC now owns 22,498 shares of the company's stock worth $774,000 after purchasing an additional 6,774 shares during the period. Finally, ARS Investment Partners LLC acquired a new stake in Harmony Biosciences during the fourth quarter worth approximately $841,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.