Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Stock Has Average Price Target of $47.44 According to Analysts

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $47.44.

A number of research analysts have commented on the company. Oppenheimer reaffirmed an “outperform” rating on shares of Harmony Biosciences in a report on Thursday, September 24th. Mizuho boosted their price target on Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Wall Street Zen upgraded Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Truist Financial upped 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, Wolfe Research started coverage on Harmony Biosciences in a research note on Wednesday, August 26th. They set an “outperform” rating and a $60.00 price objective on the stock.

Harmony Biosciences News Summary

Here are the key news stories impacting Harmony Biosciences this week:

• Positive Sentiment: Analysts reaffirm bullish views: HC Wainwright maintained a Buy rating and set a $55 price target, implying substantial upside from the reference price. Needham also reaffirmed its Buy rating with a $50 target. These actions suggest some analysts expect continued growth from Harmony’s commercial business. HC Wainwright Buy Rating Needham Buy Rating
• Positive Sentiment: Recent operating performance remains strong: Harmony’s latest reported quarter exceeded earnings and revenue expectations, with revenue up 30.3% year over year. That growth could support the company’s valuation and the bullish analyst targets.
• Neutral Sentiment: CEO transition announced: Harmony promoted COO Peter Anastasiou to president and CEO as part of a planned transition intended to support the company’s next phase of growth. The appointment provides continuity from within management, although investors may monitor execution under the new leadership. Harmony Promotes Peter Anastasiou Planned CEO Transition
• Negative Sentiment: Bank of America remains bearish: Bank of America Securities reiterated its Sell rating on HRMY. The opposing view offsets the recent Buy reiterations and may contribute to caution among investors, particularly while the company undergoes a leadership change. Bank of America Sell Rating

Insider Buying and Selling

In other Harmony Biosciences news, insider Kumar Budur sold 35,852 shares of the business’s stock in a transaction 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 owned 13,115 shares in the company, valued at $564,600.75. The trade was a 73.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 72,406 shares of company stock valued at $3,108,520 over the last three months. Insiders own 11.00% of the company’s stock.

Institutional Trading of Harmony Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of HRMY. BlackRock Inc. acquired a new position in shares of Harmony Biosciences in the 2nd quarter valued at about $258,583,000. Dimensional Fund Advisors LP raised its stake in Harmony Biosciences by 13.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company’s stock worth $58,157,000 after acquiring an additional 245,784 shares during the period. SG Americas Securities LLC raised its stake in Harmony Biosciences by 109.9% during the first quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after acquiring an additional 1,056,507 shares during the period. Renaissance Technologies LLC raised its stake in Harmony Biosciences by 0.6% during the first quarter. Renaissance Technologies LLC now owns 1,077,371 shares of the company’s stock worth $30,177,000 after acquiring an additional 6,900 shares during the period. Finally, Armistice Capital LLC acquired a new stake in Harmony Biosciences during the fourth quarter worth about $18,710,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $37.03 on Friday. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 0.30 and a beta of 1.01. Harmony Biosciences has a one year low of $25.52 and a one year high of $43.49. The company’s 50-day simple moving average is $40.09 and its 200-day simple moving average is $35.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48.

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

Harmony Biosciences Company Profile

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.