FY2024 EPS Estimates for Harmony Biosciences Holdings, Inc. Lowered by Analyst (NASDAQ:HRMY)

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Equities researchers at Cantor Fitzgerald cut their FY2024 EPS estimates for shares of Harmony Biosciences in a research note issued to investors on Wednesday, July 24th. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will post earnings of $1.93 per share for the year, down from their prior forecast of $2.62. Cantor Fitzgerald currently has a “Overweight” rating and a $49.00 price target on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $2.02 per share.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, April 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Harmony Biosciences had a net margin of 22.30% and a return on equity of 28.26%. The company had revenue of $154.62 million for the quarter, compared to the consensus estimate of $154.10 million. During the same quarter in the previous year, the company earned $0.48 EPS. Harmony Biosciences’s quarterly revenue was up 29.8% compared to the same quarter last year.

Several other research analysts also recently weighed in on HRMY. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a report on Monday, June 24th. Citigroup assumed coverage on shares of Harmony Biosciences in a report on Friday, June 21st. They set a “buy” rating and a $48.00 price objective on the stock. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Harmony Biosciences Stock Performance

HRMY opened at $33.30 on Friday. The company has a current ratio of 3.11, a quick ratio of 3.07 and a debt-to-equity ratio of 0.34. The company’s fifty day moving average price is $30.87 and its two-hundred day moving average price is $31.29. Harmony Biosciences has a 1-year low of $18.61 and a 1-year high of $39.26. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 0.72 and a beta of 0.72.

Institutional Trading of Harmony Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in HRMY. TFO Wealth Partners LLC raised its holdings in shares of Harmony Biosciences by 98,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock valued at $32,000 after purchasing an additional 987 shares during the last quarter. Quadrant Capital Group LLC grew its position in Harmony Biosciences by 47.5% during 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 during the period. SG Americas Securities LLC bought a new position in Harmony Biosciences during the second quarter valued at about $138,000. Lazard Asset Management LLC grew its position in Harmony Biosciences by 98.3% during the first quarter. Lazard Asset Management LLC now owns 4,542 shares of the company’s stock valued at $152,000 after buying an additional 2,251 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in Harmony Biosciences during the fourth quarter valued at about $210,000. Hedge funds and other institutional investors 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.