Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) fell 3.2% on Monday . The company traded as low as $34.65 and last traded at $34.16. 119,415 shares changed hands during trading, a decline of 77% from the average session volume of 525,468 shares. The stock had previously closed at $35.28.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on HRMY. Mizuho upped their target price on Harmony Biosciences from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Tuesday, March 18th. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday, February 25th. HC Wainwright decreased their price target on Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They set a "buy" rating and a $55.00 price objective on the stock. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Harmony Biosciences has a consensus rating of "Buy" and a consensus price target of $53.33.
Check Out Our Latest Research Report on HRMY
Harmony Biosciences Trading Down 0.6 %
The firm's fifty day moving average price is $36.13 and its 200-day moving average price is $35.52. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 0.47 and a beta of 0.82. 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 posted its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $201.30 million during the quarter, compared to analyst estimates of $201.25 million. During the same period in the previous year, the business posted $0.45 EPS. Harmony Biosciences's revenue was up 19.5% on a year-over-year basis. On average, equities analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.
Insider Activity at Harmony Biosciences
In related news, insider Jeffrey Dierks sold 10,507 shares of the 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandip Kapadia sold 1,775 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $38.05, for a total transaction of $67,538.75. The disclosure for this sale can be found here. Insiders have sold a total of 72,452 shares of company stock worth $2,831,679 in the last three months. 30.80% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Harmony Biosciences by 92.6% during the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company's stock valued at $31,000 after purchasing an additional 436 shares in the last quarter. Mendota Financial Group LLC boosted its stake in Harmony Biosciences by 24,125.0% during the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock valued at $33,000 after buying an additional 965 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Harmony Biosciences during the fourth quarter valued at about $41,000. KBC Group NV raised its position in Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company's stock worth $63,000 after acquiring an additional 819 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Harmony Biosciences in the 3rd quarter valued at about $74,000. Institutional investors and hedge funds own 86.23% of the company's stock.
About Harmony Biosciences
(
Get Free Report)
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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