Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report)'s stock price dropped 3.1% during trading on Friday . The company traded as low as $34.40 and last traded at $34.65. Approximately 55,783 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 475,282 shares. The stock had previously closed at $35.75.
Analysts Set New Price Targets
Several research analysts have issued reports on HRMY shares. Mizuho increased their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the stock an "outperform" rating in a research 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 target on the stock. Needham & Company LLC restated a "buy" rating and set a $52.00 target price on shares of Harmony Biosciences in a report on Tuesday, October 29th. Raymond James reissued an "outperform" rating and issued a $40.00 price objective on shares of Harmony Biosciences in a research report on Thursday, October 10th. Finally, Cantor Fitzgerald lifted their target price on Harmony Biosciences from $51.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. According to data from MarketBeat, Harmony Biosciences presently has an average rating of "Moderate Buy" and an average price target of $47.00.
View Our Latest Stock Analysis on HRMY
Harmony Biosciences Stock Down 3.0 %
The business's 50-day moving average is $35.16 and its 200-day moving average is $33.72. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.66 and a beta of 0.77.
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, 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 analyst estimates of $184.07 million. During the same quarter last year, the business posted $0.63 earnings per share. Harmony Biosciences's revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts predict that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current year.
Insiders Place Their Bets
In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences stock in a transaction 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 link. Company insiders own 30.80% of the company's stock.
Institutional Investors Weigh In On Harmony Biosciences
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in Harmony Biosciences by 21.2% in 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 position in shares of Harmony Biosciences by 11.1% in the 2nd quarter. Profund Advisors LLC now owns 7,557 shares of the company's stock valued at $228,000 after buying an additional 758 shares in the last quarter. CWM LLC lifted its holdings 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 acquiring an additional 775 shares in the last quarter. Summit Global Investments grew 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 period. Finally, AQR Capital Management LLC increased its holdings in shares of Harmony Biosciences by 0.7% in the second quarter. AQR Capital Management LLC now owns 154,345 shares of the company's stock worth $4,657,000 after acquiring an additional 1,116 shares in the last quarter. Institutional investors 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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