Harmony Biosciences (NASDAQ:HRMY) Sets New 52-Week High at $39.91

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $39.91 and last traded at $39.91, with a volume of 481446 shares traded. The stock had previously closed at $37.29.

Analysts Set New Price Targets

A number of brokerages have commented on HRMY. UBS Group began coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a research note on Tuesday. Finally, Citigroup started coverage on Harmony Biosciences in a research note on Friday, June 21st. They set a “buy” rating and a $48.00 target price on the stock. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.33.

Harmony Biosciences Stock Up 6.7 %

The company has a quick ratio of 3.09, a current ratio of 3.13 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $35.45 and a 200 day simple moving average of $32.40. The firm has a market capitalization of $2.26 billion, a P/E ratio of 16.14, a P/E/G ratio of 0.77 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.24. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The business had revenue of $172.80 million for the quarter, compared to the consensus estimate of $172.53 million. During the same period in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, equities analysts expect that Harmony Biosciences Holdings, Inc. will post 2.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its holdings in shares of Harmony Biosciences by 47.5% during the fourth 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Harmony Biosciences by 1.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock valued at $1,184,000 after purchasing an additional 397 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Harmony Biosciences by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock valued at $964,000 after purchasing an additional 517 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Harmony Biosciences by 7.0% during the first quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock valued at $352,000 after purchasing an additional 684 shares in the last quarter. Finally, Profund Advisors LLC increased its position in Harmony Biosciences by 11.1% during the second quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock valued at $228,000 after acquiring an additional 758 shares during the last quarter. 86.23% of the stock is 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.