Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $55.00 Average Price Target from Brokerages

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have covered the stock in the last year is $55.00.

Several research firms have recently weighed in on HRMY. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research note on Monday, January 13th. Cantor Fitzgerald lifted their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Raymond James reissued an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a research report on Thursday, October 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $75.00 target price on shares of Harmony Biosciences in a research report on Thursday, January 16th.

Insider Activity

In other news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total value of $774,228.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,419 shares of company stock valued at $3,082,455. 30.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Harmony Biosciences

Several institutional investors have recently made changes to their positions in HRMY. Pacer Advisors Inc. grew its stake in Harmony Biosciences by 18.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock valued at $78,452,000 after buying an additional 351,582 shares during the last quarter. Marshall Wace LLP boosted its stake in Harmony Biosciences by 145.4% in the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after buying an additional 181,092 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Harmony Biosciences by 27.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock worth $26,416,000 after purchasing an additional 140,690 shares during the last quarter. HealthInvest Partners AB boosted its holdings in shares of Harmony Biosciences by 335.2% in the 3rd quarter. HealthInvest Partners AB now owns 151,875 shares of the company’s stock worth $6,075,000 after acquiring an additional 116,975 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Harmony Biosciences by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company’s stock valued at $28,871,000 after buying an additional 112,197 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $38.01 on Wednesday. Harmony Biosciences has a 52 week low of $28.14 and a 52 week high of $41.61. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The firm has a market cap of $2.17 billion, a P/E ratio of 18.01, a P/E/G ratio of 0.51 and a beta of 0.78. The business’s 50 day moving average price is $34.86 and its 200 day moving average price is $35.12.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company had revenue of $186.00 million during the quarter, compared to analyst estimates of $184.07 million. During the same quarter in the previous year, the firm earned $0.63 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts expect that Harmony Biosciences will post 2.43 earnings per share for the current 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.