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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has received an average rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $42.6667.

Several research firms have recently commented on HRMY. Deutsche Bank Aktiengesellschaft downgraded shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Monday, February 23rd. Needham & Company LLC cut their target price on shares of Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Wall Street Zen downgraded shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Mizuho set a $50.00 price target on shares of Harmony Biosciences in a research note on Thursday, February 19th. Finally, HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Harmony Biosciences in a report on Wednesday, February 25th.

Insider Activity at Harmony Biosciences

In related news, CFO Sandip Kapadia sold 3,746 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $37.15, for a total transaction of $139,163.90. Following the completion of the transaction, the chief financial officer directly owned 24,521 shares of the company’s stock, valued at approximately $910,955.15. This represents a 13.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 23.60% of the company’s stock.

Institutional Trading of Harmony Biosciences

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after acquiring an additional 643 shares during the last quarter. Allworth Financial LP increased its position in Harmony Biosciences by 286.7% in the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after purchasing an additional 602 shares during the last quarter. Leonteq Securities AG bought a new stake in Harmony Biosciences in the fourth quarter worth $30,000. National Bank of Canada FI purchased a new stake in Harmony Biosciences during the third quarter valued at $40,000. Finally, Clearstead Advisors LLC raised its stake in Harmony Biosciences by 145.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after purchasing an additional 699 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY opened at $27.72 on Monday. The stock has a market cap of $1.60 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 0.38 and a beta of 0.88. Harmony Biosciences has a 1 year low of $25.52 and a 1 year high of $40.87. The firm has a fifty day moving average price of $33.13 and a 200-day moving average price of $33.11. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.60 and a quick ratio of 3.58.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.46). Harmony Biosciences had a net margin of 18.29% and a return on equity of 19.86%. The business had revenue of $243.78 million for the quarter, compared to the consensus estimate of $240.04 million. During the same period last year, the business posted $0.85 EPS. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. Equities analysts anticipate that Harmony Biosciences will post 2.43 earnings per share 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.