Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $47.00

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $47.00.

Several brokerages recently issued reports on HRMY. Cantor Fitzgerald lifted their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and issued a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a report on Tuesday, October 29th. Mizuho boosted their price target on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, UBS Group began coverage on Harmony Biosciences in a report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target for the company.

Insider Activity at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total value of $869,943.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 30.80% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

Several institutional investors have recently added to or reduced their stakes in HRMY. Pacer Advisors Inc. grew its position in Harmony Biosciences by 0.6% during the second quarter. Pacer Advisors Inc. now owns 2,509,609 shares of the company’s stock valued at $75,715,000 after acquiring an additional 14,695 shares during the period. Dimensional Fund Advisors LP grew its position in Harmony Biosciences by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company’s stock valued at $28,871,000 after acquiring an additional 112,197 shares during the period. American Century Companies Inc. grew its position in Harmony Biosciences by 53.7% during the second quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock valued at $20,562,000 after acquiring an additional 238,140 shares during the period. Massachusetts Financial Services Co. MA grew its position in Harmony Biosciences by 27.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock valued at $26,416,000 after acquiring an additional 140,690 shares during the period. Finally, Renaissance Technologies LLC grew its position in Harmony Biosciences by 56.7% during the second quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock valued at $17,975,000 after acquiring an additional 215,700 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $35.08 on Friday. The stock has a fifty day moving average price of $36.15 and a 200 day moving average price of $33.41. The stock has a market cap of $2.00 billion, a PE ratio of 16.71, a P/E/G ratio of 0.67 and a beta of 0.77. Harmony Biosciences has a 1 year low of $23.42 and a 1 year high of $41.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.15. The firm had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. Harmony Biosciences’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. Sell-side analysts forecast that Harmony Biosciences will post 2.36 earnings per share for the current fiscal year.

Harmony Biosciences Company Profile

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.