Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) PT at $40.63

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $40.63.

Several research analysts have recently weighed in on HRMY shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research report on Friday, April 12th. Mizuho decreased their target price on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Bank of America reaffirmed an “underperform” rating and issued a $30.00 target price on shares of Harmony Biosciences in a research report on Tuesday, January 2nd. The Goldman Sachs Group boosted their target price on Harmony Biosciences from $25.00 to $28.00 and gave the company a “sell” rating in a research report on Tuesday, January 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 9th.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 11,979 shares of Harmony Biosciences stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $32.00, for a total transaction of $383,328.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 30.80% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds have recently added to or reduced their stakes in the stock. TFO Wealth Partners LLC boosted its stake in shares of Harmony Biosciences by 98,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock worth $32,000 after buying an additional 987 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Harmony Biosciences by 47.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after buying an additional 329 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Harmony Biosciences by 95.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $50,000 after buying an additional 748 shares during the last quarter. Oakworth Capital Inc. purchased a new position in shares of Harmony Biosciences in the 3rd quarter worth approximately $150,000. Finally, ELCO Management Co. LLC purchased a new position in shares of Harmony Biosciences in the 3rd quarter worth approximately $210,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

HRMY stock opened at $29.32 on Monday. The stock has a 50-day moving average price of $31.37 and a 200-day moving average price of $29.98. Harmony Biosciences has a 1-year low of $18.61 and a 1-year high of $39.26. The company has a current ratio of 2.75, a quick ratio of 2.72 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1.67 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.41 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.29). Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The business had revenue of $168.40 million during the quarter, compared to the consensus estimate of $168.90 million. During the same period last year, the business posted $1.01 earnings per share. The business’s revenue was up 31.3% on a year-over-year basis. As a group, equities research analysts expect that Harmony Biosciences will post 3 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.