Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Consensus Rating of “Hold” by Analysts

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have received an average rating of “Hold” from the twelve research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $42.6667.

A number of brokerages have recently commented on HRMY. UBS Group lowered their price target on Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Zacks Research downgraded shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Bank of America cut their target price on shares of Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating on the stock in a report on Wednesday, February 25th. HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a report on Wednesday, February 25th. Finally, Truist Financial downgraded Harmony Biosciences from a “buy” rating to a “hold” rating in a research note on Monday, February 23rd.

Insider Transactions at Harmony Biosciences

In other news, CEO Jeffrey M. Dayno sold 25,933 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $40.11, for a total transaction of $1,040,172.63. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Sandip Kapadia sold 3,746 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $37.15, for a total value of $139,163.90. Following the completion of the transaction, the chief financial officer owned 24,521 shares of the company’s stock, valued at $910,955.15. This represents a 13.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 50,640 shares of company stock worth $1,932,256. 23.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Harmony Biosciences

Several large investors have recently made changes to their positions in HRMY. SG Americas Securities LLC raised its position in Harmony Biosciences by 4,102.4% in the 4th quarter. SG Americas Securities LLC now owns 961,667 shares of the company’s stock valued at $35,986,000 after buying an additional 938,783 shares during the last quarter. Boston Partners acquired a new stake in Harmony Biosciences in the 2nd quarter valued at $19,398,000. Arrowstreet Capital Limited Partnership lifted its position in Harmony Biosciences by 127.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company’s stock worth $28,658,000 after buying an additional 508,498 shares in the last quarter. Armistice Capital LLC acquired a new position in shares of Harmony Biosciences during the 4th quarter worth about $18,710,000. Finally, AQR Capital Management LLC grew its holdings in shares of Harmony Biosciences by 128.9% in the 4th quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock valued at $30,456,000 after acquiring an additional 458,321 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Up 1.0%

Shares of NASDAQ:HRMY opened at $28.54 on Thursday. The company has a 50 day moving average of $35.41 and a 200-day moving average of $33.89. Harmony Biosciences has a one year low of $25.52 and a one year high of $40.87. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 0.38 and a beta of 0.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.60 and a quick ratio of 3.58.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.46). Harmony Biosciences had a net margin of 18.29% and a return on equity of 19.86%. The business had revenue of $243.78 million during the quarter, compared to the consensus estimate of $240.04 million. During the same period in the previous year, the business posted $0.85 earnings per share. Harmony Biosciences’s revenue was up 21.1% compared to the same quarter last year. On average, sell-side analysts forecast that Harmony Biosciences will post 2.43 earnings per share for the current year.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.