Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Stock Has Consensus Target Price of $48.00

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been assigned an average rating of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $48.00.

Several equities analysts have weighed in on the stock. Mizuho set a $49.00 price target on shares of Harmony Biosciences in a report on Thursday, October 29th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Harmony Biosciences in a research report on Monday, October 19th. Oppenheimer reissued an “outperform” rating on shares of Harmony Biosciences in a research note on Thursday, September 24th. WBB Securities upgraded shares of Harmony Biosciences to a “hold” rating in a research report on Friday, October 23rd. Finally, Weiss Ratings upgraded shares of Harmony Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 12th.

Harmony Biosciences Stock Performance

Shares of HRMY opened at $33.11 on Tuesday. The company has a quick ratio of 3.45, a current ratio of 3.44 and a debt-to-equity ratio of 0.12. The business has a 50-day simple moving average of $39.36 and a two-hundred day simple moving average of $34.70. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 0.27 and a beta of 1.00. Harmony Biosciences has a 52 week low of $25.90 and a 52 week high of $43.49.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.28). The company had revenue of $268.92 million for the quarter, compared to analysts’ expectations of $272.05 million. Harmony Biosciences had a net margin of 18.05% and a return on equity of 18.55%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 earnings per share. On average, analysts expect that Harmony Biosciences will post 3.69 EPS for the current year.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences news, insider Kumar Budur sold 35,852 shares of the firm’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $43.05, for a total transaction of $1,543,428.60. Following the sale, the insider directly owned 13,115 shares of the company’s stock, valued at $564,600.75. This trade represents a 73.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 72,406 shares of company stock valued at $3,108,520. Corporate insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Harmony Biosciences during the 2nd quarter valued at approximately $258,583,000. Dimensional Fund Advisors LP boosted its stake in Harmony Biosciences by 13.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company’s stock worth $58,157,000 after purchasing an additional 245,784 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Harmony Biosciences by 548.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,124,717 shares of the company’s stock valued at $44,505,000 after buying an additional 951,273 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Harmony Biosciences by 0.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,077,371 shares of the company’s stock valued at $30,177,000 after buying an additional 6,900 shares in the last quarter. Finally, venBio Partners LLC purchased a new stake in Harmony Biosciences during the 2nd quarter valued at approximately $17,192,584. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial-stage biopharmaceutical company focused on developing and providing therapies for patients with rare neurological disorders. The company’s activities center on conditions involving sleep-wake regulation and other central nervous system disorders where treatment options may be limited.

Harmony’s principal product is WAKIX (pitolisant), an oral, non-scheduled treatment that acts as a histamine-3 receptor antagonist/inverse agonist. In the United States, WAKIX is approved for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy and for excessive daytime sleepiness in pediatric patients aged 6 and older with narcolepsy.