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

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been given a consensus rating of “Buy” by the eleven research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $45.25.

Several equities analysts have weighed in on HRMY shares. Wall Street Zen upgraded Harmony Biosciences from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Harmony Biosciences in a research report on Monday, December 29th. Zacks Research upgraded shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Mizuho upped their price target on shares of Harmony Biosciences from $39.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, December 1st. Finally, Oppenheimer reissued an “outperform” rating and issued a $62.00 price objective on shares of Harmony Biosciences in a research note on Monday, November 24th.

Insider Transactions at Harmony Biosciences

In other news, CEO Jeffrey M. Dayno sold 25,933 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $40.11, for a total value of $1,040,172.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandip Kapadia sold 20,961 shares of Harmony Biosciences stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $35.92, for a total value of $752,919.12. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 50,640 shares of company stock valued at $1,932,256. 23.60% of the stock is owned by insiders.

Institutional Trading of Harmony Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of HRMY. Dimensional Fund Advisors LP boosted its stake in Harmony Biosciences by 6.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,691,581 shares of the company’s stock worth $46,620,000 after buying an additional 109,405 shares during the period. American Century Companies Inc. boosted its stake in shares of Harmony Biosciences by 11.2% during the 3rd quarter. American Century Companies Inc. now owns 1,669,565 shares of the company’s stock worth $46,013,000 after purchasing an additional 168,145 shares during the period. LSV Asset Management grew its holdings in Harmony Biosciences by 7.1% during the 3rd quarter. LSV Asset Management now owns 1,594,893 shares of the company’s stock valued at $43,955,000 after purchasing an additional 106,391 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Harmony Biosciences by 42.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock worth $35,701,000 after purchasing an additional 388,472 shares during the period. Finally, Marshall Wace LLP raised its position in Harmony Biosciences by 36.3% in the 2nd quarter. Marshall Wace LLP now owns 1,209,484 shares of the company’s stock worth $38,220,000 after purchasing an additional 321,947 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY opened at $36.52 on Friday. The company has a market cap of $2.10 billion, a P/E ratio of 11.48, a P/E/G ratio of 0.34 and a beta of 0.84. Harmony Biosciences has a 52-week low of $25.52 and a 52-week high of $40.87. 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 firm’s fifty day moving average is $37.41 and its two-hundred day moving average is $34.26.

Harmony Biosciences (NASDAQ:HRMY) last issued 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 firm had revenue of $239.46 million for the quarter, compared to analysts’ expectations of $222.68 million. As a group, analysts anticipate that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

About Harmony Biosciences

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.