Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $40.89

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has received an average rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $40.8889.

A number of brokerages have commented on HRMY. Wall Street Zen lowered Harmony Biosciences from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Deutsche Bank Aktiengesellschaft lowered Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research report on Monday, February 23rd. Truist Financial raised their price objective on Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Weiss Ratings lowered Harmony Biosciences from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. Finally, HC Wainwright restated a “buy” rating on shares of Harmony Biosciences in a research report on Friday, May 22nd.

Harmony Biosciences Trading Down 2.1%

Shares of NASDAQ HRMY opened at $34.46 on Friday. Harmony Biosciences has a one year low of $25.52 and a one year high of $40.87. The firm has a market capitalization of $1.99 billion, a PE ratio of 13.90, a PEG ratio of 0.24 and a beta of 0.96. The company has a current ratio of 3.58, a quick ratio of 3.56 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $30.86 and a two-hundred day moving average price of $33.14.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The business had revenue of $215.39 million for the quarter, compared to analyst estimates of $220.84 million. During the same quarter in the previous year, the business posted $0.78 earnings per share. The company’s revenue was up 16.6% compared to the same quarter last year. As a group, analysts predict that Harmony Biosciences will post 3.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

Several institutional investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Harmony Biosciences by 0.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 47,085 shares of the company’s stock valued at $1,762,000 after buying an additional 298 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Harmony Biosciences by 1.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,639 shares of the company’s stock valued at $789,000 after buying an additional 348 shares during the last quarter. Nebula Research & Development LLC lifted its holdings in shares of Harmony Biosciences by 2.0% during the 2nd quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock valued at $550,000 after buying an additional 348 shares during the last quarter. Profund Advisors LLC lifted its holdings in shares of Harmony Biosciences by 5.1% during the 3rd quarter. Profund Advisors LLC now owns 10,803 shares of the company’s stock valued at $298,000 after buying an additional 520 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Harmony Biosciences by 2.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company’s stock valued at $717,000 after buying an additional 532 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Company Profile

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.