Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) PT at $40.89

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $40.8889.

A number of equities analysts have weighed in on the stock. Bank of America decreased their price objective on shares of Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating for the company in a research report on Wednesday, February 25th. Mizuho set a $50.00 price objective on shares of Harmony Biosciences in a research report on Thursday, February 19th. Needham & Company LLC decreased their price objective on shares of Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Harmony Biosciences in a report on Wednesday, February 25th. Finally, Zacks Research upgraded Harmony Biosciences from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its holdings in Harmony Biosciences by 109.9% in the first quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock valued at $56,529,000 after buying an additional 1,056,507 shares during the last quarter. Armistice Capital LLC bought a new stake in Harmony Biosciences in the fourth quarter valued at about $18,710,000. AQR Capital Management LLC increased its holdings in Harmony Biosciences by 128.9% in the fourth quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock valued at $30,456,000 after buying an additional 458,321 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Harmony Biosciences by 42.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock worth $35,701,000 after purchasing an additional 388,472 shares during the last quarter. Finally, UBS Group AG lifted its stake in Harmony Biosciences by 213.3% during the third quarter. UBS Group AG now owns 503,081 shares of the company’s stock worth $13,865,000 after purchasing an additional 342,505 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $29.83 on Tuesday. Harmony Biosciences has a 1-year low of $25.52 and a 1-year high of $40.87. The business has a 50-day moving average of $29.27 and a 200-day moving average of $33.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.58 and a quick ratio of 3.56. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.20 and a beta of 0.97.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.21). The company had revenue of $215.39 million during the quarter, compared to analysts’ expectations of $220.84 million. Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.Harmony Biosciences’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. On average, equities analysts anticipate that Harmony Biosciences will post 3.34 EPS for the current fiscal year.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.