Harmony Biosciences (NASDAQ:HRMY) Shares Gap Up to $36.89

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) gapped up prior to trading on Tuesday . The stock had previously closed at $36.89, but opened at $38.07. Harmony Biosciences shares last traded at $37.12, with a volume of 42,556 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HRMY shares. Citigroup started coverage on shares of Harmony Biosciences in a report on Friday, June 21st. They set a “buy” rating and a $48.00 target price on the stock. UBS Group started coverage on Harmony Biosciences in a report on Tuesday. They set a “buy” rating and a $56.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Harmony Biosciences currently has an average rating of “Moderate Buy” and an average target price of $41.33.

Harmony Biosciences Trading Up 0.5 %

The company has a current ratio of 3.13, a quick ratio of 3.09 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average price is $34.13 and its 200 day moving average price is $31.86. The stock has a market cap of $2.10 billion, a P/E ratio of 15.97, a PEG ratio of 0.71 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.24. The company had revenue of $172.80 million during the quarter, compared to analyst estimates of $172.53 million. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter last year, the company earned $0.56 EPS. Equities research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.19 earnings per share for the current year.

Institutional Trading of Harmony Biosciences

A number of large investors have recently made changes to their positions in the stock. TFO Wealth Partners LLC increased its position in shares of Harmony Biosciences by 98,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock valued at $32,000 after purchasing an additional 987 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Harmony Biosciences by 47.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $33,000 after buying an additional 329 shares during the last quarter. nVerses Capital LLC bought a new position in Harmony Biosciences in the second quarter worth approximately $36,000. Quarry LP purchased a new position in shares of Harmony Biosciences during the 2nd quarter worth $62,000. Finally, Headlands Technologies LLC grew its position in shares of Harmony Biosciences by 1,608.1% during the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after acquiring an additional 2,396 shares during the period. 86.23% of the stock is currently owned by institutional investors.

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.