Harmony Biosciences Holdings, Inc. (HRMY) – What Are Analysts Saying About This Stock?

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $48.20.

A number of equities research analysts recently weighed in on the stock. Zacks Research cut shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of Harmony Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Harmony Biosciences in a research note on Monday. Truist Financial lifted their price target on Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen raised Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th.

Insider Transactions at Harmony Biosciences

In related news, insider Kumar Budur sold 35,852 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $43.05, for a total transaction of $1,543,428.60. Following the completion of the sale, the insider directly owned 13,115 shares in the company, valued at approximately $564,600.75. This trade represents a 73.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 72,406 shares of company stock worth $3,108,520 over the last quarter. 11.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Harmony Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its position in Harmony Biosciences by 166.7% in the third quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock worth $32,000 after acquiring an additional 510 shares in the last quarter. Argent Capital Management LLC bought a new stake in Harmony Biosciences during the third quarter worth approximately $647,000. Envestnet Portfolio Solutions Inc. grew its stake in Harmony Biosciences by 4.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,566 shares of the company’s stock valued at $640,000 after buying an additional 787 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Harmony Biosciences in the 2nd quarter worth $65,000. Finally, IFP Advisors Inc grew its position in shares of Harmony Biosciences by 4.6% in the second quarter. IFP Advisors Inc now owns 8,102 shares of the company’s stock valued at $295,000 after purchasing an additional 353 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $38.27 on Friday. Harmony Biosciences has a 52 week low of $25.52 and a 52 week high of $43.49. The company has a market cap of $2.23 billion, a P/E ratio of 12.18, a PEG ratio of 0.30 and a beta of 1.01. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $40.07 and a two-hundred day moving average of $35.34.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $0.96 by $0.32. The business had revenue of $261.28 million during the quarter, compared to analyst estimates of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The company’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. As a group, analysts anticipate that Harmony Biosciences will post 3.79 EPS for the current year.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial-stage pharmaceutical company focused on developing and marketing therapies for patients with rare neurological disorders. The company’s activities center on conditions that are often underserved by conventional treatment options, including sleep disorders and other central nervous system diseases.

Harmony’s principal product is WAKIX (pitolisant), an oral, non-scheduled medication that acts as a histamine-3 receptor antagonist/inverse agonist.