Harmony Biosciences Holdings, Inc. Forecasted to Post FY2024 Earnings of $2.62 Per Share (NASDAQ:HRMY)

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Cantor Fitzgerald boosted their FY2024 earnings per share estimates for Harmony Biosciences in a note issued to investors on Monday, July 1st. Cantor Fitzgerald analyst C. Duncan now expects that the company will earn $2.62 per share for the year, up from their previous estimate of $2.45. Cantor Fitzgerald currently has a “Overweight” rating and a $49.00 target price on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $1.96 per share.

Other research analysts have also recently issued reports about the stock. Citigroup initiated coverage on shares of Harmony Biosciences in a report on Friday, June 21st. They set a “buy” rating and a $48.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a research note on Monday, June 24th. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Harmony Biosciences has an average rating of “Moderate Buy” and a consensus price target of $41.67.

Harmony Biosciences Price Performance

NASDAQ:HRMY opened at $30.89 on Wednesday. Harmony Biosciences has a 52 week low of $18.61 and a 52 week high of $39.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.07 and a current ratio of 3.11. The firm’s 50-day simple moving average is $30.00 and its 200 day simple moving average is $31.19. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 0.68 and a beta of 0.72.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The firm had revenue of $154.62 million for the quarter, compared to analyst estimates of $154.10 million. Harmony Biosciences had a return on equity of 28.26% and a net margin of 22.30%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS.

Institutional Trading of Harmony Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. TFO Wealth Partners LLC raised its stake in Harmony Biosciences by 98,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock worth $32,000 after acquiring an additional 987 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Harmony Biosciences by 47.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $33,000 after purchasing an additional 329 shares during the last quarter. Lazard Asset Management LLC boosted its position in Harmony Biosciences by 98.3% in the first quarter. Lazard Asset Management LLC now owns 4,542 shares of the company’s stock valued at $152,000 after buying an additional 2,251 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Harmony Biosciences during the fourth quarter worth $210,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Harmony Biosciences by 342.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,777 shares of the company’s stock worth $219,000 after buying an additional 5,244 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

About Harmony Biosciences

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.