Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $53.11 Consensus Target Price from Analysts

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has received a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $53.11.

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price for the company. HC Wainwright lowered their target price on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday, February 25th. Finally, Mizuho lowered their target price on shares of Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th.

Insiders Place Their Bets

In related news, insider Jeffrey Dierks sold 1,629 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $38.02, for a total transaction of $61,934.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandip Kapadia sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total transaction of $1,004,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,452 shares of company stock valued at $2,831,679. Insiders own 30.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HRMY. GSA Capital Partners LLP purchased a new position in Harmony Biosciences in the third quarter valued at $235,000. Quest Partners LLC increased its holdings in Harmony Biosciences by 137.6% in the third quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock valued at $1,429,000 after buying an additional 20,689 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Harmony Biosciences in the third quarter valued at $359,000. Intech Investment Management LLC purchased a new position in Harmony Biosciences in the third quarter valued at $388,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Harmony Biosciences by 27.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock valued at $26,416,000 after buying an additional 140,690 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

NASDAQ HRMY opened at $34.32 on Thursday. The company has a market cap of $1.97 billion, a PE ratio of 16.27, a P/E/G ratio of 0.47 and a beta of 0.82. Harmony Biosciences has a 52-week low of $28.14 and a 52-week high of $41.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The firm’s 50 day moving average price is $36.40 and its 200-day moving average price is $35.62.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. The company had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. Harmony Biosciences’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the firm earned $0.45 earnings per share. Sell-side analysts forecast that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Harmony Biosciences Company Profile

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.