Brokerages Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $41.33

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned a consensus rating of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and seven have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $41.33.

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a report on Thursday, September 12th. Citigroup assumed coverage on Harmony Biosciences in a research report on Friday, June 21st. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, UBS Group started coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They set a “buy” rating and a $56.00 target price for the company.

Institutional Trading of Harmony Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC lifted its position in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Harmony Biosciences by 1.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock worth $1,184,000 after buying an additional 397 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in Harmony Biosciences by 1.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock worth $964,000 after buying an additional 517 shares in the last quarter. ProShare Advisors LLC boosted its position in Harmony Biosciences by 7.0% in the 1st quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock valued at $352,000 after buying an additional 684 shares during the period. Finally, Profund Advisors LLC grew its stake in shares of Harmony Biosciences by 11.1% in the second quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock worth $228,000 after acquiring an additional 758 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Trading Down 2.6 %

Shares of HRMY opened at $38.25 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.13 and a quick ratio of 3.09. The firm has a market cap of $2.17 billion, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 0.75 and a beta of 0.73. The company has a 50 day simple moving average of $35.30 and a two-hundred day simple moving average of $32.32. Harmony Biosciences has a 1 year low of $18.61 and a 1 year high of $39.73.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.24. The business had revenue of $172.80 million during the quarter, compared to analysts’ expectations of $172.53 million. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. On average, equities analysts expect that Harmony Biosciences will post 2.19 earnings per share for the current fiscal year.

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.