Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives Consensus Recommendation of “Buy” from Analysts

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned an average recommendation of “Buy” from the nine research firms that are covering the firm, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $53.33.

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday, February 25th. Mizuho upped their target price on Harmony Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price for the company. Finally, HC Wainwright decreased their price objective on Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 27th.

Insider Activity

In other news, CFO Sandip Kapadia sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total value of $1,004,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Dierks sold 10,507 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $37.01, for a total value of $388,864.07. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock valued at $2,831,679 in the last three months. 30.80% of the stock is currently owned by company insiders.

Institutional Trading of Harmony Biosciences

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after purchasing an additional 436 shares in the last quarter. Mendota Financial Group LLC increased its stake in Harmony Biosciences by 24,125.0% in the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after purchasing an additional 965 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Harmony Biosciences in the 4th quarter valued at approximately $41,000. KBC Group NV increased its stake in Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after purchasing an additional 819 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Harmony Biosciences in the 3rd quarter valued at approximately $74,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Trading Down 1.1 %

HRMY opened at $34.40 on Thursday. Harmony Biosciences has a one year low of $28.14 and a one year high of $41.61. The company has a market cap of $1.97 billion, a P/E ratio of 16.30, a PEG ratio of 0.47 and a beta of 0.82. 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 business’s 50-day simple moving average is $36.39 and its 200-day simple moving average is $35.60.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The firm had revenue of $201.30 million during the quarter, compared to analysts’ expectations of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. As a group, equities research analysts expect 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.