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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $44.50.

A number of analysts recently weighed in on HRMY shares. Truist Financial started coverage on Harmony Biosciences in a report on Monday, July 21st. They issued a “buy” rating and a $48.00 price objective for the company. Mizuho increased their price target on Harmony Biosciences from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Needham & Company LLC lowered their price objective on Harmony Biosciences from $48.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. UBS Group cut their price objective on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Finally, HC Wainwright decreased their target price on shares of Harmony Biosciences from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, September 25th.

Hedge Funds Weigh In On Harmony Biosciences

Hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group boosted its position in Harmony Biosciences by 1,031.9% during the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock valued at $35,000 after acquiring an additional 970 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Harmony Biosciences by 4,185.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock valued at $37,000 after purchasing an additional 1,130 shares during the period. National Bank of Canada FI bought a new stake in shares of Harmony Biosciences during the 3rd quarter valued at about $40,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Harmony Biosciences during the 1st quarter valued at about $57,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Harmony Biosciences by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock worth $70,000 after purchasing an additional 299 shares during the period. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Down 0.1%

Shares of NASDAQ HRMY opened at $33.99 on Tuesday. Harmony Biosciences has a 1 year low of $25.52 and a 1 year high of $40.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.75 and a quick ratio of 3.72. The firm has a market cap of $1.96 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 0.44 and a beta of 0.85. The company has a 50 day simple moving average of $29.63 and a 200 day simple moving average of $32.91.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.05). The business had revenue of $239.46 million during the quarter, compared to analyst estimates of $222.68 million. Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. On average, 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.