Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $50.29.

Several analysts have commented on the stock. Berenberg Bank initiated coverage on shares of Harmony Biosciences in a research report on Thursday, September 7th. They set a “buy” rating and a $59.00 target price for the company. Piper Sandler reduced their target price on Harmony Biosciences from $72.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, October 16th. Raymond James lowered their price target on Harmony Biosciences from $58.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, October 16th. Needham & Company LLC reduced their price objective on shares of Harmony Biosciences from $66.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, October 16th. Finally, Mizuho restated a “buy” rating and set a $54.00 price objective on shares of Harmony Biosciences in a report on Wednesday, October 4th.

Institutional Trading of Harmony Biosciences

A number of hedge funds have recently made changes to their positions in HRMY. Quadrant Capital Group LLC bought a new position in shares of Harmony Biosciences during the second quarter worth approximately $25,000. Platinum Investment Management Ltd. acquired a new stake in shares of Harmony Biosciences during the first quarter worth $43,000. Lazard Asset Management LLC bought a new stake in shares of Harmony Biosciences in the second quarter valued at about $61,000. Metropolitan Life Insurance Co NY grew its stake in shares of Harmony Biosciences by 21.1% in the second quarter. Metropolitan Life Insurance Co NY now owns 1,818 shares of the company’s stock valued at $64,000 after acquiring an additional 317 shares in the last quarter. Finally, US Bancorp DE increased its position in Harmony Biosciences by 25.0% during the first quarter. US Bancorp DE now owns 2,261 shares of the company’s stock worth $74,000 after acquiring an additional 452 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Trading Down 1.9 %

Shares of Harmony Biosciences stock opened at $19.20 on Monday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 5.87, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. The company has a quick ratio of 4.84, a current ratio of 4.90 and a debt-to-equity ratio of 0.37. The company has a 50-day simple moving average of $31.62 and a 200 day simple moving average of $33.58. Harmony Biosciences has a 12-month low of $18.61 and a 12-month high of $62.08.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.06). The company had revenue of $134.22 million during the quarter, compared to analyst estimates of $139.79 million. Harmony Biosciences had a net margin of 40.16% and a return on equity of 42.49%. Research analysts expect that Harmony Biosciences will post 2.39 earnings per share for the current fiscal year.

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. It offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.