Harmony Biosciences Holdings, Inc. (HRMY) - What Are Brokerages Saying About This Stock?

Key Points

• Analysts maintain a Moderate Buy consensus on Harmony Biosciences, with seven buys, one strong buy, four holds and one sell among 13 analysts. The average 12-month price target is $48, with several recent firms assigning buy ratings and targets of $50–$55.
• Harmony reported better-than-expected quarterly results, posting $1.28 in EPS versus the $0.96 consensus and revenue of $261.28 million, up 30.3% year over year. Analysts expect full-year EPS of approximately $3.73.
• The stock opened at $37.91, below its average analyst price target, while institutional investors own 86.23% of outstanding shares. Insiders sold 72,406 shares worth about $3.1 million during the last quarter.

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) have been given a consensus rating of "Moderate Buy" by the thirteen analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $48.00.

HRMY has been the topic of several recent analyst reports. Zacks Research upgraded Harmony Biosciences from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 15th. HC Wainwright reissued a "buy" rating and issued a $55.00 price target on shares of Harmony Biosciences in a report on Tuesday, October 13th. Weiss Ratings upgraded Harmony Biosciences from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, October 12th. LADENBURG THALM/SH SH initiated coverage on Harmony Biosciences in a report on Thursday, October 15th. They set a "buy" rating and a $55.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of Harmony Biosciences in a report on Monday, October 19th.

Harmony Biosciences Stock Down 2.2%

HRMY stock opened at $37.91 on Tuesday. Harmony Biosciences has a one year low of $25.90 and a one year high of $43.49. The stock has a market capitalization of $2.21 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 0.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. The company has a fifty day moving average of $39.76 and a 200-day moving average of $34.74.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.32. The business had revenue of $261.28 million for the quarter, compared to the consensus estimate of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The business's quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. As a group, analysts expect that Harmony Biosciences will post 3.73 EPS for the current year.

Insider Buying and Selling

In related news, insider Kumar Budur sold 35,852 shares of the stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $43.05, for a total value of $1,543,428.60. Following the sale, the insider directly owned 13,115 shares of the company's stock, valued at approximately $564,600.75. This represents a 73.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 72,406 shares of company stock worth $3,108,520 in the last quarter. 11.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Harmony Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Harmony Biosciences during the second quarter worth approximately $258,583,000. Dimensional Fund Advisors LP grew its stake in shares of Harmony Biosciences by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company's stock valued at $58,157,000 after buying an additional 245,784 shares during the period. Renaissance Technologies LLC grew its stake in shares of Harmony Biosciences by 0.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,077,371 shares of the company's stock valued at $30,177,000 after buying an additional 6,900 shares during the period. venBio Partners LLC acquired a new stake in shares of Harmony Biosciences during the 2nd quarter worth $17,192,584. Finally, Tieton Capital Management LLC acquired a new stake in shares of Harmony Biosciences during the 2nd quarter worth $11,170,000. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial-stage biopharmaceutical company focused on developing and providing therapies for patients with rare neurological disorders. The company's activities center on conditions involving sleep-wake regulation and other central nervous system disorders where treatment options may be limited.

Harmony's principal product is WAKIX (pitolisant), an oral, non-scheduled treatment that acts as a histamine-3 receptor antagonist/inverse agonist. In the United States, WAKIX is approved for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy and for excessive daytime sleepiness in pediatric patients aged 6 and older with narcolepsy.

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