Brokerages Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) PT at $41.33

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $41.33.

Several brokerages recently commented on HRMY. UBS Group initiated coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target for the company. Citigroup assumed coverage on Harmony Biosciences in a research report on Friday, June 21st. They issued a “buy” rating and a $48.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a research report on Thursday, September 12th.

Harmony Biosciences Price Performance

Shares of HRMY opened at $39.29 on Thursday. The stock’s fifty day moving average is $35.22 and its 200-day moving average is $32.26. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 0.75 and a beta of 0.73. Harmony Biosciences has a one year low of $18.61 and a one year high of $39.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13.

Harmony Biosciences (NASDAQ:HRMY) last announced 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. The company had revenue of $172.80 million during the quarter, compared to analysts’ expectations of $172.53 million. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period last year, the company posted $0.56 earnings per share. Equities analysts anticipate that Harmony Biosciences will post 2.19 EPS for the current year.

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds have recently made changes to their positions in the business. TFO Wealth Partners LLC lifted its holdings in shares of Harmony Biosciences by 98,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock valued at $32,000 after acquiring an additional 987 shares during the period. Quadrant Capital Group LLC boosted its position in Harmony Biosciences by 47.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $33,000 after buying an additional 329 shares in the last quarter. nVerses Capital LLC bought a new stake in Harmony Biosciences during the second quarter worth about $36,000. Quarry LP acquired a new stake in shares of Harmony Biosciences during the second quarter worth approximately $62,000. Finally, Headlands Technologies LLC raised its stake in shares of Harmony Biosciences by 1,608.1% in the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after acquiring an additional 2,396 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

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.