Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives Average Rating of “Buy” from Analysts

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been given an average rating of “Buy” by the nine research firms that are presently covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is $52.44.

A number of equities analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Mizuho boosted their price objective on Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 18th. UBS Group lowered their target price on Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, April 8th.

Harmony Biosciences Price Performance

HRMY stock opened at $29.86 on Friday. The company has a market cap of $1.71 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $31.54 and a two-hundred day moving average price of $34.12. Harmony Biosciences has a 12-month low of $26.47 and a 12-month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business had revenue of $201.30 million during the quarter, compared to analysts’ expectations of $201.25 million. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, research analysts predict that Harmony Biosciences will post 2.43 EPS for the current year.

Hedge Funds Weigh In On Harmony Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in HRMY. Hillsdale Investment Management Inc. raised its holdings in Harmony Biosciences by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 68,000 shares of the company’s stock valued at $2,340,000 after acquiring an additional 300 shares in the last quarter. Aurora Investment Counsel increased its position in shares of Harmony Biosciences by 0.6% in the 1st quarter. Aurora Investment Counsel now owns 61,667 shares of the company’s stock worth $2,047,000 after purchasing an additional 374 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Harmony Biosciences by 2.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company’s stock valued at $704,000 after purchasing an additional 420 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after purchasing an additional 436 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Harmony Biosciences by 0.4% in the first quarter. Rhumbline Advisers now owns 109,073 shares of the company’s stock worth $3,620,000 after purchasing an additional 485 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.