Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives Consensus Rating of "Buy" from Brokerages

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) have earned an average rating of "Buy" from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have covered the stock in the last year is $53.11.

A number of equities research analysts have issued reports on HRMY shares. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of Harmony Biosciences in a research note on Tuesday, February 25th. Mizuho cut their target price on Harmony Biosciences from $52.00 to $42.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. HC Wainwright decreased their target price on Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target for the company.

Harmony Biosciences Stock Down 0.1 %

HRMY stock opened at $33.60 on Thursday. The business's 50-day moving average price is $36.48 and its 200-day moving average price is $35.67. The stock has a market cap of $1.93 billion, a P/E ratio of 15.92, a PEG ratio of 0.47 and a beta of 0.82. 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 twelve month low of $28.14 and a twelve month high of $41.61.

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Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. The business had revenue of $201.30 million for the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, equities research analysts forecast that Harmony Biosciences will post 2.43 EPS for the current year.

Insider Transactions at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 1,123 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock valued at $2,831,679 in the last ninety days. Corporate insiders own 30.80% of the company's stock.

Institutional Investors Weigh In On Harmony Biosciences

Large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new position in shares of Harmony Biosciences in the 3rd quarter worth approximately $235,000. Quest Partners LLC lifted its position in Harmony Biosciences by 137.6% in the third quarter. Quest Partners LLC now owns 35,723 shares of the company's stock worth $1,429,000 after buying an additional 20,689 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Harmony Biosciences during the third quarter worth $359,000. Intech Investment Management LLC bought a new position in Harmony Biosciences during the third quarter valued at $388,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Harmony Biosciences by 27.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company's stock valued at $26,416,000 after acquiring an additional 140,690 shares during the period. 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.

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