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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $51.33.

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald raised shares of Harmony Biosciences to a “strong-buy” rating in a research report on Tuesday, May 13th. Needham & Company LLC reissued a “buy” rating and set a $49.00 target price on shares of Harmony Biosciences in a research report on Tuesday, May 6th. The Goldman Sachs Group raised shares of Harmony Biosciences to a “hold” rating and set a $33.00 target price for the company in a research report on Thursday, July 10th. Oppenheimer initiated coverage on shares of Harmony Biosciences in a research note on Monday, June 2nd. They issued an “outperform” rating and a $61.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Harmony Biosciences in a research report on Tuesday, April 8th.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $34.84 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.63 and a current ratio of 3.67. Harmony Biosciences has a fifty-two week low of $26.47 and a fifty-two week high of $41.61. The stock has a market cap of $2.00 billion, a PE ratio of 13.30, a PEG ratio of 0.48 and a beta of 0.83. The firm’s fifty day moving average price is $33.74 and its two-hundred day moving average price is $33.88.

Harmony Biosciences (NASDAQ:HRMY) last issued 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 business had revenue of $184.73 million for the quarter, compared to analysts’ expectations of $184.26 million. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. On average, equities analysts expect that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of HRMY. Financial Management Professionals Inc. bought a new position in Harmony Biosciences during the first quarter valued at approximately $29,000. Brooklyn Investment Group raised its position in shares of Harmony Biosciences by 1,031.9% during the 1st quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock valued at $35,000 after purchasing an additional 970 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Harmony Biosciences during the 4th quarter valued at $41,000. Caitong International Asset Management Co. Ltd purchased a new position in Harmony Biosciences during the first quarter valued at $57,000. Finally, PNC Financial Services Group Inc. grew its stake in Harmony Biosciences by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock valued at $80,000 after acquiring an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.