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

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $44.38.

A number of research analysts recently commented on the company. Mizuho upped their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Wednesday, October 2nd. Raymond James reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. Finally, UBS Group assumed coverage on shares of Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 target price for the company.

Institutional Trading of Harmony Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in HRMY. Los Angeles Capital Management LLC raised its holdings in Harmony Biosciences by 4.5% during the first quarter. Los Angeles Capital Management LLC now owns 25,224 shares of the company’s stock worth $847,000 after purchasing an additional 1,076 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Harmony Biosciences by 1.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock valued at $1,184,000 after buying an additional 397 shares during the period. Hedeker Wealth LLC bought a new position in Harmony Biosciences during the first quarter valued at about $2,627,000. China Universal Asset Management Co. Ltd. grew its holdings in Harmony Biosciences by 60.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 10,893 shares of the company’s stock worth $366,000 after acquiring an additional 4,116 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Harmony Biosciences by 9.0% in the first quarter. Janney Montgomery Scott LLC now owns 29,974 shares of the company’s stock worth $1,007,000 after acquiring an additional 2,465 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Trading Up 1.3 %

Harmony Biosciences stock opened at $35.41 on Monday. Harmony Biosciences has a 1 year low of $18.79 and a 1 year high of $40.60. The firm’s 50-day moving average is $36.41 and its 200-day moving average is $32.84. 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 company has a market cap of $2.01 billion, a P/E ratio of 15.33, a PEG ratio of 0.67 and a beta of 0.73.

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