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

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $47.00.

HRMY has been the topic of several analyst reports. Raymond James reiterated an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. Oppenheimer reissued an “outperform” rating and set a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Cantor Fitzgerald boosted their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a research note on Tuesday, October 29th. Finally, UBS Group started coverage on shares of Harmony Biosciences in a research report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target on the stock.

Harmony Biosciences Price Performance

HRMY opened at $33.49 on Tuesday. The stock has a market capitalization of $1.91 billion, a P/E ratio of 15.87, a PEG ratio of 0.64 and a beta of 0.79. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. Harmony Biosciences has a 12-month low of $28.14 and a 12-month high of $41.61. The stock has a 50-day moving average price of $34.85 and a 200-day moving average price of $33.83.

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

Insider Transactions at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 30.80% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

Large investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new stake in Harmony Biosciences during the 2nd quarter worth $36,000. CWM LLC increased its holdings in shares of Harmony Biosciences by 111.7% in the third quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after purchasing an additional 775 shares during the last quarter. Quarry LP purchased a new position in Harmony Biosciences during the second quarter worth approximately $62,000. Quantbot Technologies LP acquired a new position in Harmony Biosciences during the third quarter worth $74,000. Finally, Headlands Technologies LLC grew its holdings in Harmony Biosciences by 1,608.1% in the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after buying an additional 2,396 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other 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.