Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $45.6250.

HRMY has been the subject of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Harmony Biosciences in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft decreased their target price on Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, September 25th. Needham & Company LLC reissued a “buy” rating and set a $42.00 target price on shares of Harmony Biosciences in a research note on Monday, November 24th. Wall Street Zen raised Harmony Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, UBS Group decreased their price objective on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th.

Insider Transactions at Harmony Biosciences

In related news, CEO Jeffrey M. Dayno sold 25,933 shares of Harmony Biosciences stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $40.11, for a total value of $1,040,172.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 23.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Harmony Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of HRMY. Strs Ohio purchased a new stake in Harmony Biosciences in the first quarter valued at approximately $587,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Harmony Biosciences in the 2nd quarter valued at $1,478,000. CX Institutional increased its holdings in shares of Harmony Biosciences by 166.8% in the 2nd quarter. CX Institutional now owns 207,783 shares of the company’s stock valued at $6,566,000 after acquiring an additional 129,916 shares during the period. Capital Fund Management S.A. purchased a new stake in Harmony Biosciences in the 2nd quarter valued at $1,142,000. Finally, Exchange Traded Concepts LLC boosted its stake in Harmony Biosciences by 102.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 65,023 shares of the company’s stock worth $1,792,000 after purchasing an additional 32,923 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Price Performance

Shares of HRMY opened at $36.75 on Wednesday. The stock has a market capitalization of $2.12 billion, a PE ratio of 11.56, a P/E/G ratio of 0.38 and a beta of 0.84. 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 quick ratio of 3.72 and a current ratio of 3.75. The company’s 50-day simple moving average is $35.65 and its 200-day simple moving average is $33.74.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. The business had revenue of $239.46 million during the quarter, compared to analyst estimates of $222.68 million. Analysts forecast that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.