Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $42.67 Consensus Price Target from Analysts

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have earned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $42.6667.

HRMY has been the subject of several research reports. Needham & Company LLC dropped their price target on Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Harmony Biosciences in a report on Wednesday, February 25th. Mizuho set a $50.00 price objective on Harmony Biosciences in a research report on Thursday, February 19th. UBS Group dropped their target price on Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Harmony Biosciences in a research report on Monday, December 29th.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences news, CFO Sandip Kapadia sold 3,746 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $37.15, for a total value of $139,163.90. Following the completion of the sale, the chief financial officer owned 24,521 shares of the company’s stock, valued at $910,955.15. The trade was a 13.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 made changes to their positions in HRMY. Robeco Institutional Asset Management B.V. grew its position in Harmony Biosciences by 0.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 47,085 shares of the company’s stock worth $1,762,000 after buying an additional 298 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Harmony Biosciences by 1.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,639 shares of the company’s stock valued at $789,000 after acquiring an additional 348 shares in the last quarter. Nebula Research & Development LLC lifted its position in shares of Harmony Biosciences by 2.0% during the 2nd quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock valued at $550,000 after acquiring an additional 348 shares during the period. Amalgamated Bank lifted its position in shares of Harmony Biosciences by 3.8% during the 3rd quarter. Amalgamated Bank now owns 11,328 shares of the company’s stock valued at $312,000 after acquiring an additional 417 shares during the period. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Harmony Biosciences by 12.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,466 shares of the company’s stock worth $141,000 after purchasing an additional 479 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Stock Up 1.8%

Shares of HRMY opened at $27.59 on Monday. The firm has a market cap of $1.60 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 0.37 and a beta of 0.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.58 and a current ratio of 3.60. Harmony Biosciences has a 52 week low of $25.52 and a 52 week high of $40.87. The firm’s 50-day simple moving average is $32.57 and its 200 day simple moving average is $32.95.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data 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 return on equity of 19.86% and a net margin of 18.29%.The company had revenue of $243.78 million for the quarter, compared to analyst estimates of $240.04 million. During the same quarter last year, the business earned $0.85 earnings per share. The company’s revenue was up 21.1% on a year-over-year basis. On average, analysts forecast that Harmony Biosciences will post 2.43 earnings per share for the current 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.