Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Average Recommendation of “Moderate Buy” by Brokerages

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $41.33.

HRMY has been the subject of a number of research reports. Citigroup began coverage on shares of Harmony Biosciences in a report on Friday, June 21st. They set a “buy” rating and a $48.00 target price for the company. UBS Group started coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a research report on Tuesday.

Harmony Biosciences Stock Down 1.4 %

Shares of HRMY stock opened at $37.29 on Thursday. Harmony Biosciences has a 1 year low of $18.61 and a 1 year high of $39.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13. The business’s fifty day moving average is $35.45 and its 200-day moving average is $32.40. The stock has a market cap of $2.12 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 0.77 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.24. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The company had revenue of $172.80 million during the quarter, compared to the consensus estimate of $172.53 million. During the same period in the prior year, the company earned $0.56 EPS. Harmony Biosciences’s revenue was up 28.8% on a year-over-year basis. Equities analysts expect that Harmony Biosciences will post 2.19 earnings per share for the current fiscal year.

Institutional Trading of Harmony Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted 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 worth $33,000 after purchasing an additional 329 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Harmony Biosciences by 1.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock valued at $1,184,000 after acquiring an additional 397 shares during the period. Texas Permanent School Fund Corp increased its stake in shares of Harmony Biosciences by 1.8% in the first quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock worth $964,000 after purchasing an additional 517 shares during the period. ProShare Advisors LLC boosted its stake in Harmony Biosciences by 7.0% during the 1st quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock valued at $352,000 after purchasing an additional 684 shares during the period. Finally, Profund Advisors LLC lifted its holdings in shares of Harmony Biosciences by 11.1% during the second quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock worth $228,000 after buying an additional 758 shares during the last quarter. Institutional investors and hedge funds 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.