HRMY FY2024 EPS Estimate Boosted by Cantor Fitzgerald

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Equities researchers at Cantor Fitzgerald upped their FY2024 earnings estimates for shares of Harmony Biosciences in a research report issued to clients and investors on Wednesday, October 30th. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will post earnings per share of $2.53 for the year, up from their prior forecast of $2.52. Cantor Fitzgerald has a “Overweight” rating and a $58.00 price target on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $2.23 per share.

A number of other brokerages also recently issued reports on HRMY. UBS Group started coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price objective for the company. Oppenheimer restated an “outperform” rating and set a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday. Mizuho upped their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a research note on Tuesday. Finally, Raymond James restated an “outperform” rating and issued a $40.00 target price on shares of Harmony Biosciences in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Harmony Biosciences currently has an average rating of “Moderate Buy” and an average target price of $47.00.

Harmony Biosciences Stock Down 4.9 %

Shares of NASDAQ:HRMY opened at $32.13 on Thursday. The business has a fifty day simple moving average of $36.44 and a 200 day simple moving average of $33.11. Harmony Biosciences has a 12-month low of $22.00 and a 12-month high of $41.61. The firm has a market cap of $1.83 billion, a P/E ratio of 16.85, a P/E/G ratio of 0.69 and a beta of 0.73. The company has a quick ratio of 3.09, a current ratio of 3.13 and a debt-to-equity ratio of 0.32.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The firm had revenue of $186.00 million during the quarter, compared to the consensus estimate of $184.07 million. During the same quarter last year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis.

Institutional Trading of Harmony Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC bought a new stake in shares of Harmony Biosciences during the second quarter worth about $36,000. CWM LLC increased its holdings in Harmony Biosciences by 111.7% during the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after purchasing an additional 775 shares in the last quarter. Quarry LP purchased a new stake in shares of Harmony Biosciences in the second quarter worth approximately $62,000. Headlands Technologies LLC lifted its holdings in shares of Harmony Biosciences by 1,608.1% in the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after purchasing an additional 2,396 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Harmony Biosciences by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after buying an additional 360 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Insider Activity

In related news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 30.80% of the stock is currently owned by company insiders.

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.