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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat 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 1 year target price among brokers that have covered the stock in the last year is $44.38.

Several equities research analysts recently issued reports on the company. Citigroup assumed coverage on Harmony Biosciences in a research note on Friday, June 21st. They set a “buy” rating and a $48.00 price objective for the company. UBS Group assumed coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 price objective for the company. Raymond James restated an “outperform” rating and set a $40.00 price target on shares of Harmony Biosciences in a research report on Thursday, October 10th. Mizuho raised their price target on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Wednesday, October 2nd.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HRMY. Los Angeles Capital Management LLC increased its holdings in shares of Harmony Biosciences by 4.5% in the first quarter. Los Angeles Capital Management LLC now owns 25,224 shares of the company’s stock worth $847,000 after buying an additional 1,076 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Harmony Biosciences by 1.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock worth $1,184,000 after buying an additional 397 shares during the period. Hedeker Wealth LLC purchased a new position in shares of Harmony Biosciences in the first quarter worth about $2,627,000. China Universal Asset Management Co. Ltd. increased its holdings in Harmony Biosciences by 60.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,893 shares of the company’s stock valued at $366,000 after purchasing an additional 4,116 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in Harmony Biosciences by 9.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 29,974 shares of the company’s stock valued at $1,007,000 after purchasing an additional 2,465 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $35.41 on Monday. The firm has a market capitalization of $2.01 billion, a P/E ratio of 15.33, a PEG ratio of 0.67 and a beta of 0.73. Harmony Biosciences has a one year low of $18.79 and a one year high of $40.60. The business has a fifty day moving average price of $36.41 and a 200-day moving average price of $32.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.13 and a quick ratio of 3.09.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter last year, the company earned $0.56 earnings per share. As a group, equities research analysts forecast that Harmony Biosciences will post 2.19 EPS for the current 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.