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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $53.63.

HRMY has been the topic of several analyst reports. Cantor Fitzgerald upgraded shares of Harmony Biosciences to a “strong-buy” rating in a report on Tuesday, May 13th. HC Wainwright restated a “buy” rating and issued a $70.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Needham & Company LLC reiterated a “buy” rating and set a $49.00 target price on shares of Harmony Biosciences in a report on Tuesday, May 6th. UBS Group lowered their price target on Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating for the company in a report on Monday, April 28th. Finally, Oppenheimer assumed coverage on Harmony Biosciences in a research report on Monday, June 2nd. They set an “outperform” rating and a $61.00 price target on the stock.

Institutional Trading of Harmony Biosciences

Institutional investors have recently modified their holdings of the company. Deep Track Capital LP bought a new position in shares of Harmony Biosciences during the fourth quarter worth about $49,894,000. Vanguard Group Inc. grew its stake in shares of Harmony Biosciences by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock worth $162,883,000 after acquiring an additional 1,262,362 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Harmony Biosciences by 165.2% in the fourth quarter. Marshall Wace LLP now owns 929,744 shares of the company’s stock valued at $31,992,000 after purchasing an additional 579,103 shares during the last quarter. New Vernon Capital Holdings II LLC lifted its position in shares of Harmony Biosciences by 3,219.0% in the first quarter. New Vernon Capital Holdings II LLC now owns 488,424 shares of the company’s stock worth $16,211,000 after purchasing an additional 473,708 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Harmony Biosciences in the fourth quarter worth $16,118,000. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Trading Down 1.8%

NASDAQ HRMY opened at $31.89 on Friday. Harmony Biosciences has a 12 month low of $26.47 and a 12 month high of $41.61. The stock has a 50-day simple moving average of $32.54 and a 200 day simple moving average of $34.00. The company has a current ratio of 3.67, a quick ratio of 3.63 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.83 billion, a PE ratio of 12.17, a P/E/G ratio of 0.48 and a beta of 0.87.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. The company had revenue of $184.73 million during the quarter, compared to analysts’ expectations of $184.26 million. Harmony Biosciences had a return on equity of 24.32% and a net margin of 20.53%. Harmony Biosciences’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 EPS. Research analysts forecast that Harmony Biosciences will post 2.43 EPS for the current 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. 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.