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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are 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 twelve-month price target among brokers that have issued ratings on the stock in the last year is $45.6250.

Several equities analysts recently issued reports on HRMY shares. Mizuho upped their price objective on Harmony Biosciences from $39.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, December 1st. Oppenheimer restated an “outperform” rating and issued a $62.00 price target on shares of Harmony Biosciences in a research note on Monday, November 24th. HC Wainwright reaffirmed a “buy” rating on shares of Harmony Biosciences in a research report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, September 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price target on shares of Harmony Biosciences in a report on Monday, November 24th.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $40.51 on Friday. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 0.51 and a beta of 0.80. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.72 and a current ratio of 3.75. Harmony Biosciences has a one year low of $25.52 and a one year high of $40.93. The company’s 50-day moving average is $32.00 and its 200 day moving average is $33.29.

Harmony Biosciences (NASDAQ:HRMY) last issued its 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). Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%.The firm had revenue of $239.46 million during the quarter, compared to the consensus estimate of $222.68 million. Sell-side analysts expect that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in HRMY. Brooklyn Investment Group grew its position in Harmony Biosciences by 1,031.9% in the 1st quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock worth $35,000 after purchasing an additional 970 shares during the period. Parkside Financial Bank & Trust boosted 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 worth $37,000 after buying an additional 1,130 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of Harmony Biosciences in the 3rd quarter worth $40,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Harmony Biosciences in the first quarter worth $57,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position 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 valued at $70,000 after acquiring an additional 299 shares during 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.