Brokerages Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Price Target at $41.67

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) have earned a consensus rating of "Moderate Buy" from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $41.67.

A number of equities research analysts have issued reports on HRMY shares. Citigroup started coverage on Harmony Biosciences in a research report on Friday, June 21st. They set a "buy" rating and a $48.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $52.00 price target on shares of Harmony Biosciences in a report on Tuesday, August 6th.

Harmony Biosciences Trading Up 1.0 %

HRMY stock traded up $0.35 during midday trading on Friday, reaching $36.36. 225,244 shares of the company traded hands, compared to its average volume of 381,186. Harmony Biosciences has a 52-week low of $18.61 and a 52-week high of $39.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.07 and a current ratio of 3.11. The business has a 50 day moving average of $32.81 and a 200-day moving average of $31.67. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 0.81 and a beta of 0.72.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.24. Harmony Biosciences had a return on equity of 28.26% and a net margin of 22.30%. The business had revenue of $172.80 million for the quarter, compared to the consensus estimate of $172.53 million. During the same period in the prior year, the business posted $0.56 earnings per share. The company's quarterly revenue was up 28.8% compared to the same quarter last year. As a group, sell-side analysts expect that Harmony Biosciences will post 1.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings in Harmony Biosciences by 47.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company's stock worth $33,000 after purchasing an additional 329 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Harmony Biosciences by 1.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company's stock valued at $1,184,000 after acquiring an additional 397 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in Harmony Biosciences by 1.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company's stock valued at $964,000 after acquiring an additional 517 shares in the last quarter. ProShare Advisors LLC boosted its position in Harmony Biosciences by 7.0% during the 1st quarter. ProShare Advisors LLC now owns 10,488 shares of the company's stock valued at $352,000 after acquiring an additional 684 shares in the last quarter. Finally, Profund Advisors LLC boosted its position in Harmony Biosciences by 11.1% during the 2nd quarter. Profund Advisors LLC now owns 7,557 shares of the company's stock valued at $228,000 after acquiring an additional 758 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other 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.