Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $49.80

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been given an average recommendation of “Moderate Buy” by the ten analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $49.80.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Harmony Biosciences

Several large investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new position in Harmony Biosciences during the 2nd quarter valued at $36,000. CWM LLC raised its position in shares of Harmony Biosciences by 111.7% during the third quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after buying an additional 775 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Harmony Biosciences in the third quarter valued at about $74,000. Quarry LP bought a new stake in shares of Harmony Biosciences in the second quarter valued at about $62,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Harmony Biosciences by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $80,000 after buying an additional 360 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Stock Down 0.4 %

HRMY stock opened at $34.06 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The firm has a market cap of $1.94 billion, a PE ratio of 16.14, a P/E/G ratio of 0.60 and a beta of 0.79. Harmony Biosciences has a 12 month low of $28.14 and a 12 month high of $41.61. The firm has a 50 day simple moving average of $34.14 and a 200 day simple moving average of $34.35.

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

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.